AeroVironment announced on 11 June that it has made a USD25.7 million cash purchase of small vertical take-off and landing (VTOL) unmanned aerial vehicle manufacturer Pulse Aerospace.
Pulse's HeliSynth flight control system technology - developed for defence and commercial applications - will be added to AeroVironment's family of UAVs, as well as the former's family of VTOL aircraft.
Included in the cost of the acquisition are milestone-based earn-out payments of USD5 million, AeroVironment said, adding that it expects the deal to be accretive to earnings by year three.
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