News & Articles

• Transaction significantly accelerates AeroVironment’s artificial intelligence and autonomy initiatives with best-in-class computer vision and machine perception capabilities
• Increases AeroVironment’s customer-funded research and development revenue
• Broadens the scope of AeroVironment’s advanced robotic systems engineering services for defense and commercial customers

AeroVironment, Inc. accelerates artificial intelligence and autonomy initiatives with acquisition of Progeny Systems Corporation’s Intelligent Systems Group.

SIMI VALLEY, Calif., Feb. 24, 2021 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced it has acquired Progeny Systems Corporation’s Intelligent Systems Group (ISG), a leader in the development of artificial intelligence-enabled computer vision, machine learning and perceptive autonomy technologies and provider of related services to United States government customers. The acquisition will significantly accelerate AeroVironment’s development of advanced autonomy capabilities for the company’s growing portfolio of intelligent, multi-domain robotic systems, increase customer-funded research and development revenue and broaden its advanced engineering services offering to defense and commercial customers. Under the terms of the transaction, AeroVironment acquired ISG for $30 million in cash and an earnout for Progeny Systems Corporation of up to $6 million over three years, based on the achievement of specific performance targets.

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The Nano Hummingbird proved to be a first-of-its-kind innovation. The micro air vehicle was the first flapping-wing, nano unmanned air vehicle (UAV) with tai-axis control, which enabled it to hover and fly sideways, backward and forward, as well as rotate clockwise and counter clockwise and counterclockwise - all by remote control. 

Designed and developed by AeroVironment's MacCready Works Advanced Solutions team, the Nano Hummingbird was a unique project that satisfied a specific customer requirement.

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• Arcturus UAV’s complementary capabilities provide program diversification, increase key customer penetration and enhance shareholder value
• Transaction adds leading medium Unmanned Aircraft Systems to AeroVironment’s portfolio of intelligent, multi-domain robotic systems
• Vertical takeoff and landing (VTOL) JUMP 20 unmanned aircraft system delivers reliable, multi-mission capabilities without launchers or runways to USSOCOM and other customers

SIMI VALLEY, Calif., Feb. 22, 2021 – AeroVironment, 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.

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Solar technology isn't a recent discovery. Its history dates back to the seventh century B.C. when a magnifying glass was used to concentrate the sun's rays to make fire. 

Fast forward to 1839, French physicist Edmond Becquerel discovered the photovoltaic effect (generating voltage and electric current upon exposure to light) while experimenting with a cell made of metal electrodes in a conducting solution. He saw that the cell produced more electricity when it was exposed to light. Many physicists and scientists contributed to the awareness, introduction and proliferation of solar energy technology, including AeroVironment founder Dr. Paul MacCready, Jr.

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• 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

• Expected 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
• AeroVironment to host conference call and audio webcast at 2:00 pm Pacific Time today

SIMI VALLEY, Calif. Jan 13, 2021 – AeroVironment, 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.

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AeroVironment's Huntsville office recently took action to participate in the company's IMPACT! Program by getting involved in several local activities.

AeroVironment donated $2500 to the 2020 Still Serving Veterans (SSV) Golf Tournament. The annual event took place Friday, Oct. 9, in Cullman, Ala. All proceeds went to support veterans.

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• Cost-effective optional antenna array kit designed to integrate seamlessly with AeroVironment’s standard RF head antenna
• Provides operators 100 percent greater controllable range over standard RF head antenna with minimal logistical footprint
• Add-on kit narrows antenna beam width, extending command and control range up to 40 km

SIMI VALLEY, Calif., Dec. 10, 2020 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced the introduction of its Extended Range Antenna (ERA), the latest addition to AeroVironment’s growing line of network connectivity solutions. The ERA is a lightweight, portable antenna array kit designed to integrate seamlessly with AeroVironment’s standard RF head antenna to support a diverse range of missions.

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• Transaction will combine leaders in unmanned aircraft systems (UAS) and unmanned ground vehicles (UGV) for broader, integrated mission solutions in air, near-space, ground and maritime domains
• AeroVironment’s strong partnership with the United States Department of Defense and presence in 50 allied nations, combined with Telerob’s 45 nation footprint and multi-industry customer base, create significant opportunities for growth and value creation
• AeroVironment and Telerob competing for multi-year United States Air Force Explosive Ordinance Disposal (EOD) robotic system program and pursuing multiple additional opportunities
• Acquisition expected to be accretive within two years to AeroVironment GAAP EPS, and accretive to non-GAAP EPS in fiscal year 2022

SIMI VALLEY, Calif. - AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems, today announced it has entered into an agreement to acquire Telerob Gesellschaft für Fernhantierungstechnik mbH, a German leader in ground robotic solutions with a global footprint, for approximately $45.4 million (€37.5 million) in cash, and will pay-off approximately $9.4 million (€7.8 million) in Telerob’s debt at closing. Telerob’s shareholder has the potential to receive an additional earn-out over three years of up to approximately $7.3 million (€6 million) based upon achieving specific milestones.

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We recently saw the announcement of the Switchblade 600 by AeroVironment, one of the global leaders in military rapidly deployable unmanned aerial vehicle platforms. With technology rapidly evolving, offering frontline forces the latest in situational awareness, we spoke with Steve Gitlin, CMO at AeroVironment just how far these deployable systems have come and how militaries can have access to not only situational awareness in real time, but with lethality options to neutralize and win engagement in the battlefield.

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Imagine a frontline defense that could neutralize your enemy within seconds and save your life and the lives of those around you. The movie "The Hurt Locker" features a scene in which the protagonists are pinned down overnight by a single sniper. Every time a member of their group peeks over the embankment to fix the location of the sniper, they are shot. Now, imagine if the team possessed a tube-launched air vehicle that they could launch at will and use to find, fix and neutralize the sniper without placing anyone in harm's way. That "imaginary" frontline defense solution is real, and it's called Switchblade.

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