Business
Cyberlux Corporation (OTC: CYBL) Announces Acquisition of Catalyst Machineworks, LLC to Accelerate its Unmanned Aircraft Solutions Platform within the U.S. Department of Defense, Government Agencies, Law Enforcement and Global Commercial Markets
Cyberlux Corporation (OTC: CYBL) Announces Acquisition of Catalyst Machineworks, LLC to Accelerate its Unmanned Aircraft Solutions Platform within the U.S. Department of Defense, Government Agencies, Law Enforcement and Global Commercial Markets.
About this update from Cyberlux Corp.
[{"type":"text","content":"The Company announces the acquisition of the leader in Drone Cinematography to further Accelerate the Delivery of is Unmanned Aircraft Solutions to Key Customers and the Deployment of the FlightGDN Technology Platform.RESEARCH TRIANGLE PARK, NC / ACCESSWIRE / March 30, 2022 / Cyberlux Corporation, (OTC:CYBL), an advanced digital technology platform company leading the digital transformation evolution across industries including advanced Unmanned Aircraft Solutions (UAS), announced that the Company has acquired Catalyst Machineworks, LLC, a leader in the highly technical cinematography drone market with established product lines that address the high-end military-grade market, the specialized drone racing market and the high-volume consumer market. Based in Texas, Catalyst Machineworks (CMW) is a leading United States-based drone hardware manufacturer with the intellectual property, technology know-how and production capabilities to deliver true military-grade and law enforcement drone solutions as 100% Made-In-America.As a result of this transaction, Cyberlux Corporation owns 100% of Catalyst Machineworks, LLC in a transaction comprised of both investment capital and a three year earn-out of shares of common stock with an expected value between $0.05 and $0.25, with the cash component being paid out over an eighteen month investment cycle, including certain equity incentives for continued revenue growth levels, technology and intellectual property development milestones, worldwide customer acquisition objectives and FlightEye solutions implementation milestones over the next four years. CMW brings to Cyberlux an entire UAS hardware technology platform, existing customers and incremental revenue. As a result, the Unmanned Aircraft Solutions business unit will deliver an expected annualized revenue of $22 million USD with an expected growth to over $67 million in revenue by 2024.With the acquisition of CMW, Cyberlux is accelerating its UAS strategy with an immediate focus on the UAS hardware and software offerings with immediate demand and market scale. The Company is now positioned to build the future of UAS technology and create enormous growth in revenue and profit over the coming years by providing solutions that meet the significant demand for U.S.-manufactured, high-capability drones across U.S. government agencies, law enfo...