AeroVironment Acquires Planck Aerosystems, a Leading Provider of Advanced Unmanned Aircraft Navigation Solutions
18 August 2022 - 6:10AM
Business Wire
- Transaction significantly accelerates AeroVironment’s
development of advanced autonomy capabilities for the company’s
unmanned aircraft systems
- Embedded flight autonomy solution enables intelligent unmanned
aircraft system capabilities for operations from moving vehicles
and vessels on land or at sea
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in
intelligent, multi-domain robotic systems, announced today it has
acquired Planck Aerosystems, Inc. (“Planck”), a leading provider of
advanced unmanned aircraft navigation solutions. The acquisition
will significantly accelerate AeroVironment’s development of
advanced autonomy capabilities.
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Planck Aerosystems’ advanced flight
autonomy and navigation solutions will be deployed and integrated
with AeroVironment’s existing portfolio of intelligent,
multi-domain robotic systems, such as JUMP 20 medium unmanned
aircraft systems. (Image: AeroVironment, Inc.)
Founded in 2014, Planck has worked closely with customers from
the U.S. Department of Defense, security agencies, allied
governments and offshore industrials to develop customer-centric
unmanned aircraft solutions. Planck’s products include embedded
technologies and fully integrated unmanned aircraft systems (UAS)
and leverage their deep technical expertise in UAS guidance and
navigation, autonomy and artificial intelligence.
Planck is a small technology company based in San Diego,
California and will be acquired by AeroVironment’s Petaluma-based
medium unmanned aircraft systems (MUAS) business segment to focus
on integrating its flight autonomy solutions, such as ACE™
(Autonomous Control Engine), into AeroVironment’s offerings to
enable safe, autonomous takeoff and landing from moving platforms
on land or at sea in GPS-denied environments. Other solutions
include AVEM™, a fully integrated mobile tethered sensor platform
designed for persistent autonomous operation from moving vehicles
and vessels in any environment, and a suite of machine-learning
object detection and tracking systems that are customized for
specific end-user needs.
“Planck has a compelling product and technology roadmap with
valuable capabilities that we plan to deploy and integrate with
AeroVironment’s existing portfolio of intelligent, multi-domain
robotic systems,” said Wahid Nawabi, AeroVironment chairman,
president and chief executive officer. “The Planck team has
developed advanced unmanned autonomy and navigation solutions for
various defense and commercial customers and by working together,
we believe we offer more compelling and differentiated solutions to
our customers moving forward.”
“This transaction accelerates AeroVironment’s innovation in
flight autonomy, increasing the effectiveness of our solutions in
contested environments and reducing the cognitive load of
operators, and adds a tethered SUAS to our portfolio of systems,
creating exciting opportunities for upcoming programs of record,”
Nawabi added.
“AeroVironment’s heritage of creating innovative solutions to
meet customer needs is an ideal fit for the Planck team,” said Josh
Wells, Planck chief executive officer. “We couldn’t be more excited
about joining forces with AeroVironment to deliver innovative,
multi-domain unmanned systems to the next generation of U.S. and
allied warfighters. AeroVironment’s reach, technical capabilities
and portfolio of unmanned systems will enable the Planck team to
scale our products to more customers, and to provide better
solutions in less time.”
ADVISOR
Canaccord Genuity served as the exclusive financial advisor to
Planck Aerosystems, Inc. in connection with the transaction.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at
the intersection of robotics, sensors, software analytics and
connectivity that deliver more actionable intelligence so you can
Proceed with Certainty. Headquartered in Virginia,
AeroVironment is a global leader in intelligent, multi-domain
robotic systems and serves defense, government and commercial
customers. For more information, visit www.avinc.com.
ABOUT PLANCK AEROSYSTEMS
Based in San Diego, California, Planck Aerosystems develops and
deploys navigation and autonomy solutions for tethered and free
flight small unmanned aircraft systems that enable them to operate
from moving platforms, including in GPS-denied environments,
primarily for defense and industrial applications. Planck
Aerosystems’ Autonomous Control Engine (ACE) has been integrated
into over 30 different aircraft types of various sizes and
configurations. For more information, visit www.planckaero.com.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995. These statements are made
on the basis of current expectations, forecasts and assumptions
that involve risks and uncertainties, including, but not limited
to, economic, competitive, governmental and technological factors
outside of our control, that may cause our business, strategy or
actual results to differ materially from those expressed or
implied. Factors that could cause actual results to differ
materially from the forward-looking statements include, but are not
limited to, our ability to perform under existing contracts and
obtain additional contracts; changes in the regulatory environment;
the activities of competitors; failure of the markets in which we
operate to grow; failure to expand into new markets; failure to
develop new products or integrate new technology with current
products; and general economic and business conditions in the
United States and elsewhere in the world. For a further list and
description of such risks and uncertainties, see the reports we
file with the Securities and Exchange Commission. We do not intend,
and undertake no obligation, to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Jonah Teeter-Balin +1 (805) 520-8350 x4278
https://investor.avinc.com/contact-us
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