Textron Inc., home to the Cessna, Beechcraft, and Bell aviation brands, has entered into an agreement to purchase Pipistrel, an award-winning pioneer and global leader in electrically powered aircraft, based in Slovenia and Italy.

With Textron, Pipistrel will have access to greater resources, technical and regulatory expertise and a global aircraft sales and support network, enabling it to accelerate its development and certification of electric and hybrid electric aircraft. Upon closing of the transaction, Textron plans to form a new business segment, Textron eAviation, focused on the development of sustainable aircraft, which will include Pipistrel.

Pipistrel founder and CEO Ivo Boscarol will remain a minority shareholder as well as Chairman Emeritus, consulting on future product plans and strategies for a two-year period.

The transaction is expected to close during the second quarter of 2022, subject to customary closing conditions, including regulatory approvals.