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.
Kris Levin-Snow, area vice president within AT&T‘s national security group, will now oversee the company’s defense industrial base portfolio in addition…
Rocket Lab has signed a definitive agreement to acquire California-based Motiv Space Systems, adding space robotics and precision spacecraft mechanism…
Sonny Bhagowalia, assistant commissioner for information and technology and chief information officer at U.S. Customs and Border Protection, has received…
NextPoint Group expands intelligence-focused capabilities with UScontracting acquisition by adding expertise in cybersecurity, signals intelligence and data analysis for national…
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.
