Tag Archives: AVAV

AeroVironment Buys Intelligent Systems Group of Progeny; Wahid Nawabi Quoted

AeroVironment (Nasdaq: AVAV) has acquired the intelligent systems group of Progeny Systems through a $30 million cash transaction as part of efforts to drive autonomy and artificial intelligence technology development work and expand robotic systems engineering support for defense and commercial clients. AeroVironment said Wednesday it will merge ISG with …

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AeroVironment Closes Arcturus UAV Buy; Wahid Nawabi Quoted

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 …

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AeroVironment to Buy Arcturus UAV in $405M Cash-Stock Deal; Wahid Nawabi Quoted

Unmanned aircraft system manufacturing company AeroVironment (Nasdaq: AVAV) has agreed to acquire Arcturus UAV in a cash-and-stock transaction valued at approximately $405M as part of efforts to expand into adjacent segments and broaden UAS portfolio and customer footprint. AeroVironment said Wednesday it expects to complete the acquisition in the fourth …

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AeroVironment to Buy Ground Robotics Vehicle Maker Telerob; Wahid Nawabi Quoted

Wahid Nawabi President and CEO AeroVironment

AeroVironment (Nasdaq: AVAV) has agreed to acquire Germany-based ground robotics vehicle developer Telerob for approximately $45.4M in cash as part of efforts to expand its global footprint and portfolio of multidomain unmanned platforms. The transaction includes payment of Telerob’s debt valued at approximately $9.4M upon the deal’s closing and up to $7.3M in additional payment to the German firm’s shareholder over three years based on specific milestones achieved.

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Teresa Covington Named AeroVironment CFO

Teresa Covington,  who held the interim chief financial officer role between Feb. 5, 2015 and July 7, 2015 at AeroVironment (Nasdaq: AVAV), has been appointed CFO on a full-time basis at the unmanned aircraft systems manufacturer. AeroVironment said Tuesday Covington will succeed Raymond Cook, who will resign as senior vice president and CFO on Feb. …

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