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AeroVironment Completes Acquisition of Arcturus UAV
AeroVironment, Inc., a global leader in unmanned aircraft systems, has announced it had completed its acquisition of Arcturus UAV, Inc. a leading designer and manufacturer of high-performance unmanned aircraft systems (UAS). The approximately $405 million transaction was previously announced in a press release on January 13, 2021.
The United States Special Operations Command (USSOCOM) selected Arcturus UAV as one of six companies qualified for the potential $975 million indefinite-delivery/indefinite-quantity MEUAS IV contract in June 2020. The contract enables awardees to compete for site-specific task orders and provide USSOCOM with unmanned aircraft systems services and support for intelligence, surveillance and reconnaissance (ISR) operations. Arcturus UAV employs its VTOL JUMP 20 in support of USSOCOM operations, minimizing the logistical footprint of UAS
22 February 2021
• Arcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value
• Transaction adds leading medium Unmanned Aircraft Systems to AeroVironment’s portfolio of intelligent, multi-domain robotic systems
• Vertical takeoff and landing (VTOL) JUMP 20 unmanned aircraft system delivers reliable, multi-mission capabilities without launchers or runways to USSOCOM and other customers
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, today announced it had completed its acquisition ofArcturus UAV, Inc. a leading designer and manufacturer of high-performance unmanned aircraft systems (UAS). The approximately $405 million transaction was previously announced in a press release on January 13, 2021.
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AeroVironment portfolio of unmanned systems. Photo Credit: Graphic Business Wire
AeroVironment, Inc. (Simi Valley, Calif., U.S.), a global leader in unmanned aircraft systems, and Arcturus UAV, Inc. (Petaluma, Calif., U.S.), a privately-held provider of Group 2 and 3 unmanned aircraft systems (UAS) and services, entered a definitive agreement as of Jan. 13, under which AeroVironment will acquire Arcturus UAV for a total purchase price of $405 million, including $355 million in cash and $50 million in AeroVironment stock. The transaction, which was unanimously approved by the AeroVironment and Arcturus UAV Boards of Directors, is expected to accelerate AeroVironment’s strategy to drive profitable growth and value by expanding into attractive adjacent segments and by broadening its capabilities and customer footprint.