Author: Jane Edwards|| Date Published: June 10, 2016
New York-based Drone USA has signed a letter of intent to buy an unidentified West Coast-based supplier of machine parts, spares and replacement tools to the defense and commercial sectors through a cash-and-stock transaction of an undisclosed sum.
Drone USA CEO Michael Bannon said Thursday he expects the transaction to help bolster the company’s earnings and build up its distribution network across the Defense Department.
The unnamed machine parts supplier generated approximately $22.3 million in revenues and $1.93 million in earnings before interest, taxes, depreciation and amortization for the last 12 months ended May 31, according to Drone USA.
Previously known as Texas Wyoming Drilling, Drone USA rebranded in May in an effort to reflect its focus on the development of low-altitude unmanned aircraft vehicles as well as expand in military, commercial and civil defense drone markets.
Shield AI has agreed to acquire simulation software company Aechelon Technology as part of efforts to expand its technological capabilities. The San Diego-based…
SentinelOne, a company specializing in artificial intelligence security, has promoted Barry Padgett to president and chief operating officer. The appointment takes effect…
Anduril Industries and Palantir Technologies are helping develop software for the potential $185 billion Golden Dome next-generation missile defense shield,…
New York-based Drone USA has signed a letter of intent to buy an unidentified West Coast-based supplier of machine parts, spares and replacement tools to the defense and commercial sectors through a cash-and-stock transaction of an undisclosed sum.
