AgEagle to Acquire senseFly from Parrot
18 Ottobre 2021 - 11:20PM
AgEagle to Acquire senseFly from Parrot
WICHITA, Kansas, PARIS, France &
LAUSANNE, Switzerland - October 18, 2021
- AgEagle Aerial
Systems Inc. (NYSE American: UAVS) (“AgEagle” or the
“Company”), an industry-leading provider of drones, sensors and
software,
and Parrot (Euronext
Paris: PARRO), a leading European drone group, today jointly
announced that they have signed a definitive agreement under which
AgEagle shall
acquire senseFly, a Parrot
Group wholly-owned subsidiary, in a cash and stock transaction
valued at US$23 million.
Founded in 2009, senseFly develops and produces
a proprietary line of eBee-branded, high performance, fixed
wing drones for professional use. Safe, ultra-light and easy
to use, these autonomous drones are utilized by thousands of
customers around the world in agriculture, government, engineering
and construction, among other industry verticals, to collect
actionable aerial data intelligence. Headquartered in Lausanne,
Switzerland, senseFly employs 90 people, generating total annual
revenues of approximately US$12.5 million in 2020.
Brandon Torres Declet, Chief Executive Officer
of AgEagle, stated, “Recognized as the producer of the world’s most
widely used fixed wing drones, senseFly is an ideal strategic fit
for AgEagle; and is expected to accelerate our core growth strategy
centered on delivering proprietary, full stack drone solutions to
the global agriculture, construction, energy, government sectors,
and in the future, package delivery. In addition, senseFly
brings AgEagle solid engineering talent focused on advanced
research and development, a well-established global reseller
network and a strong portfolio of intellectual property.”
Parrot founder and Chief Executive Officer,
Henri Seydoux, commented, “We trust that senseFly and
the eBee line of fixed wing drones will continue to
deliver tangible value, benefits and efficiencies to AgEagle’s
customers and business partners well into the future. Moving
forward, Parrot will focus its expertise and resources on the
growth of its professional quadcopter drone equipment and drone
data analysis software activities. The transaction will provide
additional cash and lower operational expends to drive Parrot’s
growth and industry standing. With the expended capabilities of the
ANAFI line of professional drones and of the Pix4D software suites,
Parrot will continue to address its core market segments: 3D
Mapping, Surveying and Inspection, Agriculture, and Defense and
Security.”
“senseFly has reached a very exciting and
pivotal point in its history and is well positioned to build upon
its leading position in the fixed wing drone market and accelerate
its promising growth trajectory through this strategic combination
with AgEagle,” noted Gilles Labossiere, senseFly’s Chief Executive
Officer. “The impressive mix of solutions for customers and proven
industry experience of both companies is expected to make for a
solid foundation capable of propelling the companies forward and
fueling exponential growth.”
In tandem with the closing of the acquisition
expected shortly, Labossiere will resign as Chief Executive Officer
of senseFly. Michael O’Sullivan, who previously served as the
Company’s Head of Global Marketing, will be appointed as Managing
Director of the new AgEagle subsidiary. All other senseFly
employees will retain their current responsibilities.
Concluding, Brandon Torres Declet added, “We are
very pleased to welcome senseFly to the fast-growing AgEagle family
and look forward to integrating its many strengths with the power
and performance of AgEagle’s proprietary sensor and software
solutions to effectively meet the needs of customers globally. We
would also like to extend our deepest thanks to Gilles for his
leadership at senseFly and the instrumental role he played in the
acquisition process. This is an exciting inflection point for the
AgEagle and senseFly teams.”
For additional details relating to the terms and
conditions of the acquisition, please refer to the Form 8-K to be
filed by AgEagle with the U.S. Securities and Exchange Commission
upon closing of the transaction and accessible
at www.sec.gov.
- PARROT_SenseFly&AgEagle_20211018_EN
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