AeroVironment acquires Pulse Aerospace
June 19, 2019 By UAV Canada Staff
AeroVironment Inc., focused on developing unmanned aircraft systems (UAS) for defense and commercial applications, has acquired Pulse Aerospace LLC, a developer and supplier of small VTOL UAS, for US$25.7 million in cash. This includes what the company describes as milestone-based earn-out payments of $5 million.
As a result of the transaction, Pulse Aerospace’s Lawrence, Kansas, facility will become the AeroVironment Innovation Center, Midwest, with a focus on small VTOL unmanned aircraft and mission planning solutions.
Pulse Aerospace is a developer of small VTOL UAS technology in the United States. Pulse’s HeliSynth technology provides flight control, payload, and endurance capabilities for both defense and commercial end markets. Pulse recently received a multi-year contract award with a maximum value of more than US$13 million from an undisclosed defense customer for its Vapor unmanned VTOL systems, spares and services.
“The talented Pulse Aerospace team has created a solution set that is unique and will expand our family of unmanned systems by addressing increasing demand from our customers for small VTOL solutions,” said Wahid Nawabi, AeroVironment’s president and chief executive officer. “This transaction brings together two highly complementary companies in terms of products, markets and culture, and will better position AeroVironment to grow our share of the small UAS market.”
Nawabi continues to explains the transaction will foster future-defining technologies such as robotics, sensors, software analytics and connectivity. “Additionally, we look forward to gaining access to the strong technical talent pool in the Lawrence, Kansas area to help achieve our long-term growth objectives,” Nawabi added.
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