Author: Jane Edwards|| Date Published: February 23, 2021
AeroVironment (Nasdaq: AVAV) has finalized its acquisition of Arcturus UAV through a $405 million cash-and-stock transaction in a push to expand its portfolio with the addition of medium unmanned aircraft systems.
AeroVironment said Monday Arcturus UAV will operate as its wholly owned subsidiary following the completion of the transaction, which was first announced in January.
Arcturus UAV uses its JUMP 20 vertical takeoff and landing platform and provides intelligence, surveillance and reconnaissance services in support of U.S. Special Operations Command under the potential $975 million Mid-Endurance UAS IV indefinite-delivery/indefinite-quantity contract. The company also supports the U.S. Army’s Future Tactical UAS program and offers T-20, a catapult-launched, fixed wing UAS.
“The JUMP 20 and T-20 platforms, combined with associated ISR services, represent a significant expansion to AeroVironment’s portfolio of intelligent, multi-domain robotic systems that will enhance long-term shareholder value and help our customers around the world Proceed with Certainty,” said Wahid Nawabi, president and CEO of AeroVironment.
The Department of State has named the eight companies that have secured indefinite-delivery/indefinite-quantity contracts to provide facility operations and maintenance…
Client Solution Architects has appointed Ellen Barletto as chief growth officer, expanding her leadership responsibilities after nearly two decades with…
