Press Releases

• 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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• 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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• 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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• 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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CARLSBAD, Calif. and SIMI VALLEY, Calif., Oct. 15, 2020 -- Viasat Inc. (NASDAQ: VSAT), a global communications company, and AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced they will collaborate on a contract awarded under the U.S. Army Reconfigurable Communications for Small Unmanned Systems (RCSUS) initiative. The project will provide U.S. military customers flying small UAS platforms the ability to deploy a robust, on-demand, highly-secure communications network that will address the growing electronic warfare capabilities of peer and near-peer adversaries.

Viasat is the prime contractor on the award and will work with AeroVironment to develop and demonstrate advanced, encrypted communications suitable for AeroVironment’s portable, hand-launched Puma AE™ tactical UAS. The two companies will seek to strengthen the communications and transmission security of AeroVironment’s Digital Data Link™ (DDL) radios currently used by the U.S. Army by converting them into a Type 1 crypto communication system for video and data transmission. 

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• Puma 3 All Environment (AE) unmanned aircraft system delivers immediate tactical intelligence, surveillance and reconnaissance (ISR) in maritime and land operations
• Customer is among the 50 allied government forces relying on AeroVironment’s innovative family of tactical unmanned aircraft systems (UAS); Foreign Military Sales (FMS) program promotes interoperability among U.S. and allied forces for joint operations
• Long-Range Tracking Antenna (LRTA) enables 60 kilometer range, and is now available in both M1/2/5 and M3/4/6 Digital Data Link (DDL) military operating bands

SIMI VALLEY, Calif., Oct. 13, 2020 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced it secured a $8,371,332 firm-fixed-price U.S. Department of Defense FMS contract award on September 25, 2020 for Puma™ 3 AE tactical UAS, training and support to an allied nation. Delivery is anticipated by March 2021.

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• Sunglider reaches stratospheric altitude in 20-hour test flight
• Successfully demonstrates broadband mobile communication on consumer smartphones, linking teams in Tokyo, New Mexico and Silicon Valley

SIMI VALLEY, Calif., Oct. 7, 2020 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announcedthe Sunglider™ solar-powered high-altitude pseudo-satellite (HAPS) achieved key test milestones, including reaching an altitude of more than 60,000 feet above sea level and successfully demonstrating mobile broadband communication. Sunglider’s development and testing is funded by HAPSMobile Inc., a joint venture majority-owned by SoftBank Corp. (TOKYO: 9434) and minority-owned by AeroVironment.

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• Switchblade 600 builds on battle-proven Switchblade 300, with patented “wave-off” feature and ability to recommit, with increased range, extended endurance and multi-purpose anti-armor munition for use against larger, hardened targets
• Lightweight, self-contained Switchblade 600 launch tube system allows for deployment flexibility from fixed and mobile platforms on land, in air or at sea
• Switchblade 600 with advanced EO/IR gimbaled sensor suite, precision flight control and more than 40 minutes of endurance delivers immediate reconnaissance, surveillance, and target acquisition
• New tablet-based Fire Control System allows operators to easily train, plan missions and execute flight operations

SIMI VALLEY, Calif., Oct. 1, 2020 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced the introduction of its family of loitering missile systems, featuring the new Switchblade 600. Switchblade 600 builds on the battle-proven track record of Switchblade 300 to define a new category of extended range loitering missiles. The U.S. Army recently awarded AeroVironment a $76 million contract award for Switchblade 300 system procurement and support as part of the Lethal Miniature Aerial Missile System (LMAMS) program. Based on the same tube-launched, collapsible wing, electric propulsion architecture as Switchblade 300, the new, larger Switchblade 600 offers expanded capabilities for engaging larger, hardened targets at greater distances.

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SIMI VALLEY, Calif. and CHICAGO, Sept. 29, 2020 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in unmanned aircraft systems (UAS), today announced a teaming agreement with Robotic Skies, a global maintenance, repair, and overhaul network for UAS, to provide field maintenance, inspection and repair support for AeroVironment customers.

Robotic Skies, through teaming agreements with companies such as AeroVironment, provides UAS fleet operators with local, aviation-grade maintenance services. The company offers a unique combination of expertise in unmanned aircraft systems and traditional aviation maintenance methodology to deliver high-quality, scalable services through its repair network.

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