AeroVironment Closes Telerob Purchase; Wahid Nawabi Quoted

AeroVironment (Nasdaq: AVAV) has closed its acquisition of Telerob, a Germany-based ground robotics vehicle developer.

“Our acquisition of Telerob marks a significant expansion to our portfolio of intelligent, multi-domain robotic systems, from small and medium unmanned aircraft systems, to tactical missile systems and now, unmanned ground vehicles,” Wahid Nawabi, president and CEO of AeroVironment, said in a statement published Tuesday.

Nawabi added that the company welcomes the Telerob team and looks forward to bringing more capabilities to clients in the U.S. and allied countries worldwide.

AeroVironment will operate Telerob as a wholly owned subsidiary and expects the acquisition to be accretive to non-GAAP earnings per share in fiscal year 2022 and to its GAAP EPS within two years.

In December, AeroVironment agreed to buy Telerob in a $45.4 million cash transaction, which includes payment of the latter’s debt at approximately $9.4 million, as part of a push to expand its global footprint and portfolio of multidomain unmanned systems.

AeroVironment and Telerob submitted a bid for the U.S. Air Force’s Explosive Ordinance Disposal robotic system program, a 10-year, indefinite-delivery/indefinite-quantity contract announced in October.

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