AgEagle Aerial Systems Inc. a drone systems and solutions provider, announced the Company has agreed to acquire MicaSense, Inc. from Parrot, Europe’s leading drone group, in a combined cash and stock transaction valued at $23 million.
Based in Seattle, Washington, MicaSense has been at the forefront of advanced drone sensor development since its founding in 2014, having formed integration partnerships with several leading fixed wing and multicopter drone manufacturers, including DraganFly, senseFly, Quantum-Systems and Wingtra, among others. MicaSense’s patented, high precision thermal and multispectral sensors serve the aerial mapping and analytics needs of the agriculture market, and are well positioned to address applications in advanced inspection in the energy and insurance sectors and autonomous flight safety for package delivery, among other solutions. MicaSense’s high performance proprietary products, including Altum, RedEdge-MX, RedEdge-MX Blue and Atlas Flight, have global distribution in 70 countries.
AgEagle’s Chief Executive Officer J. Michael Drozd stated,
“Joining forces with MicaSense will empower AgEagle to drive true innovation and advancements of commercial drone systems and solutions for a number of high growth industry segments. With the onboarding of MicaSense’s powerful imaging technologies onto a drone designed for package delivery, we believe it will enable us to produce a turnkey solution that processes in-flight data in real-time. This will allow for drones to effectively assess emergency landing zones, confirm and substantiate successful deliveries and determine proximity warnings, among other important considerations. This is just one example of how, together, we can create highly differentiated drone solutions capable of unleashing the exponential growth potential of unmanned aerial systems in The Drone Age.”
“AgEagle’s board unanimously supports the significant long-term, value-creating opportunity the combination of AgEagle and MicaSense represents,” said Barrett Mooney, Chairman of AgEagle. “Both of our companies have a similar history rooted in pioneering drones and drone-enabled solutions for the precision farming industry; and both of our companies have continued to evolve and expand our respective growth strategies to bring to market powerful new drone systems and solutions for the broader commercial drone industry. The strategic union of our strengths, complementary technological expertise and shared industry experience should position us well to capitalize on and benefit from growing demand for drone-enabled solutions capable of materially improving how businesses operate.”
Justin McAllister, Co-Founder and CTO of MicaSense, added,
“MicaSense’s industry-leading solutions, along with the cultural alignment of our two organizations, will allow AgEagle to continue emerging as a dominant player in the commercial drone industry. We are very excited to join the AgEagle family and look forward to bringing the full value of MicaSense to AgEagle’s exciting future growth.”
Source: Press Release
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