By Ross Wilkers
Jan 14, 2021
On the heels of unveiling one acquisition for its ground game, AeroVironment has revealed a second larger deal valued at $405 million to move further up the food chain of size and altitudes for unmanned aerial vehicles.
AeroVironment announced Wednesday it will pay $355 million in cash and $50 million in stock to purchase Arcturus UAV, a supplier of those platforms and other related services to customers such as Special Operations Command and the Army.
Arcturus UAV’s offerings include both the aircraft themselves and so-called “ISR-as-a-service” through a contractor-owned, contractor-operated model that sees the company supply the products for short missions in intelligence, surveillance and reconnaissance.
Drone Maker AeroVironment Soars on Deal for Arcturus UAV
AeroVironment agreed to acquire Arcturus UAV for a combination of cash and stock in a bid to expand its product portfolio.
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Shares of AeroVironment (
AVAV) - Get Report rose sharply Thursday after the drone maker entered into a definitive agreement to acquire another drone maker, privately-held Arcturus UAV, for $405 million in a cash and stock deal.
Shares of the Simi Valley, Calif., company were rising 28.0% to $123.07 on Thursday afternoon.
Terms of the deal include a payment of $355 million in cash by AeroVironment and $50 million in stock, AeroVironment said.
The transaction, expected to close during the fiscal fourth quarter of AeroVironment’s 2021, which ends in April, and subject to customary closing conditions and regulatory approvals, was unanimously approved by the boards of directors at both companies.
AeroVironment Inc. this week announced it has acquired Telerob, a German company that makes remote-controlled ground robots and intelligent robotics systems.
AeroVironment, a manufacturer of unmanned aircraft in Simi Valley, has agreed to pay $45.4 million as well as to pay off $9.4 million of Telerob’s debt at closing. There is an additional earn-out option for Telerob’s primary shareholder that could total $7.3 million over the next three years if the company achieves specific milestones.
The deal was announced Tuesday. The acquired company is officially named Telerob Gesellschaft für Fernhantierungstechnik mbH.
AeroVironment Chief Executive Wahid Nawabi said Telerob’s advanced ground robotics compliment AeroVironment’s suite of tactical unmanned aircraft and missile systems and will help expand the services both companies can offer to customers.
10 December 2020
SIMI VALLEY, Calif.– AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, today announced it has entered into an agreement to acquire Telerob Gesellschaft für Fernhantierungstechnik mbH, a German leader in ground robotic solutions with a global footprint, for approximately $45.4 million (€37.5 million) in cash, and will pay-off approximately $9.4 million (€7.8 million) in Telerob’s debt at closing. Telerob’s shareholder has the potential to receive an additional earn-out over three years of up to approximately $7.3 million (€6 million) based upon achieving specific milestones.
Founded in 1994, Telerob offers one of the industry’s most advanced and comprehensive turn-key unmanned ground robotics solutions, including the telemax and tEODor EVO family of UGVs, fully-equipped transport vehicles and training, repair and support services. Telerob’s cutting-edge solutions safely and effectively perform a variety of dangerous