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AeroVironment to Acquire Arcturus UAV, Expanding Product Portfolio and Reach into Group 2 and 3 Unmanned Aircraft Systems Segments
Total transaction value of $405 million in cash and stock Arcturus UAV’s complementary capabilities provide program diversification, increase key customer
About this update from Aerovironment, Inc.
[{"type":"text","content":"\n\nTotal transaction value of $405 million in cash and stock\n\n\n\nArcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value\n\n\n\nArcturus UAV is well positioned for ongoing United States Special Operations Command (USSOCOM) Mid-Endurance UAS (MEUAS) task orders, United States Army Future Tactical UAS (FTUAS) program delivery orders and international contracts\n\n\n\nExpected to be immediately accretive to revenue growth, adjusted EBITDA margin and non-GAAP diluted EPS, excluding intangible assets, amortization expense and deal and integration costs, and accretive to GAAP diluted EPS by fiscal year 2022\n\n\n\nAeroVironment to host conference call and audio webcast at 2:00 pm Pacific Time today\n\n\n SIMI VALLEY, Calif.--(BUSINESS WIRE)--\nAeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, and Arcturus UAV, Inc., a privately-held leading provider of Group 2 and 3 unmanned aircraft systems (UAS) and services, today announced that they have entered into a definitive agreement under which AeroVironment will acquire Arcturus UAV for a total purchase price of $405 million, including $355 million in cash and $50 million in AeroVironment stock. The transaction, which was unanimously approved by the AeroVironment and Arcturus UAV Boards of Directors, is expected to accelerate AeroVironment’s strategy to drive profitable growth and value by expanding into attractive adjacent segments and by broadening its capabilities and customer footprint.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210113005852/en/AeroVironment, Inc. to Acquire Arcturus UAV, Inc., Expand Reach into Group 2 and 3 UAS Segments (Graphic Business Wire)\nFounded in 2004 and based in Petaluma, California, Arcturus UAV has approximately 270 employees, designs and manufactures Group 2 and Group 3 UAS and provides related services, including contractor-owned, contractor-operated (COCO) services. Arcturus UAV is a leading supplier to the USSOCOM, supporting its $1.4 billion MEUAS III and IV programs, and one of four awardees selected for funded development and demonstrations supporting the U.S. Army’s FTUAS program, a potential billion dollar, next-generation UAS program. Arcturus UAV has a demonstr...