Mobix Labs To Acquire Drone Maker Vision Aerial
KUALA LUMPUR, July 27 (Bernama) -- Mobix Labs Inc has signed a definitive agreement to acquire Vision Aerial Inc, a United States (US)-based manufacturer of National Defense Authorization Act (NDAA)-compliant unmanned aerial systems, in a deal valued at approximately US$15 million. (US$1=RM4.08)
The acquisition, expected to close this quarter subject to customary conditions, including shareholder approval, will be paid through a combination of cash and Mobix Labs common stock.
In a statement, Mobix Labs said the acquisition will strengthen its presence in the secure drones and aerial intelligence market by combining Vision Aerial's unmanned aerial systems with its radio frequency (RF), sensing, communications and defence electronics technologies.
Mobix Labs chief executive officer, Phil Sansone said the acquisition advances Mobix Labs' National Security Matters Initiative and will accelerate the company's expansion into global drone and aerial intelligence markets by adding a US-built drone platform and strengthening its capabilities in mission-critical technologies.
Under the agreement, Vision Aerial will be integrated into Mobix Labs' autonomous systems business, while retaining its key leadership team and US-based manufacturing operations upon completion of the transaction.
Founded in 2013 and headquartered in Montana, Vision Aerial designs and manufactures rugged drone systems for national security, public safety, energy, industrial inspection and environmental monitoring. Its customers include the US Air Force, US Navy, government agencies, utilities and research institutions.
Mobix Labs said the acquisition positions the company to capitalise on growing global demand for trusted drone platforms used in defence, critical infrastructure protection, energy, public safety and industrial applications.
Mobix Labs is an Irvine, California-based technology company specialising in advanced electronics, connectivity, RF and sensing technologies for the aerospace, defence and communications sectors.
-- BERNAMA