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AeroVironment, Inc. Completes Acquisition of Arcturus UAV, Expands Portfolio with Medium Unmanned Aircraft Systems
Arcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value Transaction adds
About this update from Aerovironment, Inc.
[{"type":"text","content":"\n\nArcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value\n\n\nTransaction adds leading medium Unmanned Aircraft Systems to AeroVironment’s portfolio of intelligent, multi-domain robotic systems\n\n\nVertical takeoff and landing (VTOL) JUMP 20 unmanned aircraft system delivers reliable, multi-mission capabilities without launchers or runways to USSOCOM and other customers\n\n\n SIMI VALLEY, Calif.--(BUSINESS WIRE)--\nAeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, today announced it had completed its acquisition of Arcturus UAV, Inc. a leading designer and manufacturer of high-performance unmanned aircraft systems (UAS). The approximately $405 million transaction was previously announced in a press release on January 13, 2021.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210222005312/en/AeroVironment completes acquisition of Arcturus UAV (Photo: Business Wire)\nThe United States Special Operations Command (USSOCOM) selected Arcturus UAV as one of six companies qualified for the potential $975 million indefinite-delivery/indefinite-quantity MEUAS IV contract in June 2020. The contract enables awardees to compete for site-specific task orders and provide USSOCOM with unmanned aircraft systems services and support for intelligence, surveillance and reconnaissance (ISR) operations. Arcturus UAV employs its VTOL JUMP 20 in support of USSOCOM operations, minimizing the logistical footprint of UAS operations while delivering multi-payload, multi-mission capabilities. Arcturus UAV is also one of four awardees selected for funded development and demonstrations supporting the U.S. Army’s FTUAS program, a potential billion dollar, and next-generation UAS program.\n\n“Like AeroVironment, the Arcturus UAV team is laser-focused on supporting its customers around the world with the most reliable and effective products and services for their missions,” said Wahid Nawabi, president and chief executive officer. “As we welcome the Arcturus UAV team to AeroVironment, we commit to maintaining or exceeding the high level of service our existing and new customers experience. The JUMP 20 and T-20 platforms, combined with associated ISR services, represent a significant ex...