AgEagle Aerial Systems Acquires MicaSense for $23 Million
January 27, 2021 | Globe NewswireEstimated reading time: 2 minutes
AgEagle Aerial Systems Inc, an industry leading drone systems and solutions provider, 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.”
Suggested Items
SMC Korea 2024 to Highlight Semiconductor Materials Trends and Innovations on Industry’s Path to $1 Trillion
04/24/2024 | SEMIWith Korea a major consumer of semiconductor materials and advanced materials a key driver of innovation on the industry’s path to $1 trillion, industry leaders and experts will gather at SMC (Strategic Materials Conference) Korea 2024 on May 29 at the Suwon Convention Center in Gyeonggi-do, South Korea to provide insights into the latest materials developments and trends. Registration is open.
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Real Time with... IPC APEX EXPO 2024: Going Vertical: SCHMID's Advanced Solutions for Printed Circuit Boards
04/24/2024 | Real Time with...IPC APEX EXPOEditor Marcy LaRont chats with Bob Ferguson, the president of SCHMID, about advanced solutions for PCBs and the equipment they are highlighting at this year's show. He delves into vertical no-touch handling systems and the prospect of achieving sub-10-micron lines. Inspired by SCHMID's technology, Bob expresses excitement about where the industry is today.
Big Win for Defense Production Act Budget Allocation in FY24 Budget
04/23/2024 | I-Connect007 Editorial TeamOne year ago, President Biden issued a determination that chips and packaging are critical for national security. Since that time, much work has been done to continue the conversation in Washington, elevating the importance of the entire chips value chain, and including printed circuit boards and substrates, without which chips cannot operate.
Zentech’s Board of Directors Announces the Return of Matt Turpin as President and CEO
04/22/2024 | Zentech ManufacturingTurpin draws upon over 35 years of experience in the electronics industry and has an 18-year history with Zentech. He previously served as President and CEO from 2006 to 2019 after which time he has remained active in the EMS industry as an advisor to Zentech and other industry organizations.