AeroVironment has acquired Pulse Aerospace for $25.7m (£20.1m), in a move it hopes can strengthen its family of small UAS.
AeroVironment financed the transaction, which included a milestone-based earn-out payment of $5m, entirely from available cash on hand.
Pulse Aerospace is a developer of small VTOL UAS technology in the United States and recently received a multi-year contract award with a maximum value of more than $13m from an undisclosed defense customer for its Vapor unmanned VTOL systems, spares and services.
Commenting on the acquisition, Wahid Nawabi, AeroVironment’s president and CEO, said: “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.”
Adding: “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. The team at Pulse Aerospace shares our focus on disruptive innovation and we welcome them to AeroVironment. Together, we will deliver even more capability to our customers in the United States and more than 45 allied countries around the world.”
In connection with the transaction, Pulse Aerospace’s Lawrence, Kansas facility will become AeroVironment Innovation Center – Midwest, with a focus on small VTOL unmanned aircraft and mission planning solutions.