13/01/2021

AeroVironment to Acquire Arcturus UAV

AEROVIRONMENT TO ACQUIRE ARCTURUS UAV, EXPANDING PRODUCT PORTFOLIO AND REACH INTO GROUP 2 AND 3 UNMANNED AIRCRAFT SYSTEMS SEGMENTS – link

Source: AeroVironment

Article Headlines
  • Total transaction value of $405 million in cash and stock
  • Arcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value
  • Arcturus 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
  • The transaction 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
Overview & Comments
  • According to the company the transaction:
    • Provides AeroVironment access to $1 Billion+ annual Group 2 and 3 UAS segments
    • Expands AeroVironment’s unmanned aircraft systems portfolio into the mid-sized and large-UAS categories, which represent attractive growth opportunities
    • Arcturus UAV plays significant role on SOCOM’s Mid-Endurance Unmanned Aircraft System (“MEUAS”) III and IV programs, which represent a total ceiling value of $1.4 billion and are expected to run through 2022 and 2025, respectively
    • One of four awardees selected for funded development and demonstrations supporting the U.S. Army’s Future Tactical Unmanned Aircraft System (“FTUAS”) program, a potential billion-dollar, next-generation UAS program
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