L3 Acquires Open Water Power Inc.
L3 Technologies announced that it has acquired Open Water Power Inc., a Somerville, Massachusetts-based company that develops safe and high energy density undersea power generation technologies used by Unmanned Undersea Vehicles. The company's capabilities compliments L3's existing maritime platform, sensor, and payload offerings. Deal terms were not disclosed.
Employee-owned Applied Research Associates Inc. (ARA) announced that it has acquired Neya Systems LLC, a developer of unmanned systems technologies. Neya works with clients in the defense, homeland security and commercial markets. Deal terms were not disclosed.
L3 Acquires OceanServer Technology
L3 Technologies announced that it has acquired OceanServer Technology Inc. on March 17, 2017. Based in Fall River, Massachusetts, OceanServer develops and manufactures autonomous Unmanned Undersea Vehicles (UUVs) to military, commercial and international customers. The company will be integrated into L3's Sensor Systems segment. Deal terms were not disclosed.
Boeing Agrees to Acquire Liquid Robotics
Boeing announced that it has entered into an agreement to acquire Liquid Robotics, the developer of the Wave Glider, a wave and solar-powered autonomous ocean robot that supports ocean data collection and communication. Wave Glider has more than 1 million nautical miles traveled under its belt and serves customers in the defense, commercial and science markets. The company will continue as a subsidiary of Boeing. Deal terms were not disclosed.
FLIR Systems Acquires Prox Dynamics
FLIR Systems Inc. announced that it has acquires Oslo, Norway-based Prox Dynamics AS for $134 million in cash. Prox Dynamics is a developer and manufacturer of nano-class helicopter unmanned aerial systems for use in military, para-military, surveillance, and reconnaissance applications. The company's Black Hornet Personal Reconnaissance Systems is a pocket sized aerial helicopter that utilizes FLIR's Lepton micro thermal camera and at less than one ounce, is one of the lightest and stealthiest drones on the market.
Trimble Sells UAS Business to Delair-Tech
Trimble announced that it has sold its Belgium-based Gatewing Unmanned Aircraft System (UAS) engineering and manufacturing business to Delair-Tech, a French provider of long-range, fixed-wing UAS solutions. Deal terms were not disclosed although Trimble stated that the divestiture will not have a material impact to financial results.
In the same press release, Trimble also announced that it has entered into a strategic alliance with both Delair-Tech and German firm Microdones in which Delair-Tech and Microdrones will be preferred vendors of fixed-wing and multirotor UAS solutions, with Trimble providing software, data processing, and other deliverables to UAS operators.
Drone USA to Acquire West Coast Supplier
Drone USA Inc. announced that it has submitted a letter of intent to acquire a West Coast distributor of spare and replacement equipment and machine parts to DoD and commercial customers. The undisclosed company generated revenues of $22.3 million and EBITDA of $1.93 million for the twelve month period ending May 31, 2016.
Drone USA Inc. manufactures low altitude UAV's and related technologies so why would they acquire a parts supplier? According to the press release, the acquisition will strengthen the company's DoD distribution network and will be accretive to earnings. The deal consideration will be in stock. No other deal terms were disclosed.
IMSAR LLC announced that it has sold its detect and avoid radar technology to Fortem Technologies. The technology enables small UASs to avoid midair collisions with other manned and unmanned vehicles. With the increase in drone traffic and recent incidents involving passenger planes, this seems like a timely acquisition of key technology. Deal terms were not disclosed.
PrecisionHawk Raises $18 Million
PrecisionHawk Inc. announced that it has closed an $18 million investment round from Verizon Ventures, NTT Docomo Ventures, Yamaha Motor, Intel Capital, Millennium Technology Value Partners and Indiana University’s Innovate Indiana Fund in an oversubscribed round. This latest round brings PrecisionHawk’s total funding to more than $30 million.
PrecisionHawk is a provider of drones, aerial data and safety platforms for drones. The investment will be used to accelerate the expansion of the company’s terrestrial data analysis platform called DataMapper, and its low-altitude traffic and airspace safety platform called LATAS.
Arlington Capital Partners announced that it has closed its acquisition of iRobot’s Defense and Security Business and renamed the business Endeavor Robotics. Endeavor provides ground-based robots to the DoD and other clients in the security, industrial and international security markets. The business had trailing revenue of approximately $49 million and gross margin of 44 percent. The deal consideration including an earnout was $45 million.
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