UAS Drone Seeks Wider Defense Market Presence Through Duke Robotics Acquisition

UAS Drone Seeks Wider Defense Market Presence Through Duke Robotics Acquisition
UAS Drone

Unmanned aerial system provider UAS Drone has acquired Duke Robotics for an undisclosed sum as both companies aim to expand footprints in the military sector.

The combined entity seeks to offer defense agencies the TIKAD octocopter that is equipped with a robotic gimbal technology and designed to fire lightweight weapons, Duke Robotics said Wednesday.

TIKAD uses kinematic algorithms meant to help warfighters defeat remote targets in real time without endangering ground-based personnel.

Duke Robotics noted its senior leadership will serve in key management positions at the combined company and that a board of directors has been established upon closing of the deal.

UAS Drone purchased all of Duke Robotics’ outstanding capital stock in exchange for the former's common shares that were issued to the latter’s shareholders and valued at an amount equivalent to 71 percent of post-transaction cap.

Check Also

Savannah River Site

DOE Issues RFI for Savannah River Site Nuclear Cleanup Effort

The Department of Energy is looking for potential sources of environmental remediation services at the Savannah River Site in South Carolina to support the National Nuclear Security Administration's site cleanup and modernization programs. 

Alain Bellemare Operating Executive Carlyle

Alain Bellemare Named Operating Executive for Carlyle’s Global Aerospace, Defense, Gov’t Services

Alain Bellemare, an aerospace industry veteran, has been appointed an operating executive within the global aerospace, defense and government services group at The Carlyle Group (Nasdaq: CG).