Axon (Nasdaq: AXON) has agreed to acquire airspace security systems provider Dedrone for an undisclosed sum as part of efforts to accelerate the use of drones as first responders and help national security and public safety entities protect against threats posed by unmanned aircraft systems.
The acquisition is expected to be completed in the second half of 2024, subject to customary closing conditions, according to a joint release published Monday.
Axon Founder and CEO Rick Smith said the transaction seeks to revolutionize public safety.
“Together, we will accelerate our efforts in creating a more advanced end-to-end drone solution that enables the good drones to fly and helps ensure the bad ones don’t,” Smith added.
Sullivan & Cromwell and Morgan, Lewis & Bockius acted as Axon’s advisers in the transaction.
Tidal Partners and Wilmer Cutler Pickering Hale and Dorr advised Dedrone.
