AeroVironment, Inc. to Acquire Tomahawk Robotics
22 August 2023 - 11:10PM
Business Wire
AeroVironment’s unmanned systems paired with
Tomahawk Robotics’ AI-enabled technology will allow warfighters to
operate various connected robotic solutions in the battlefield and
share information between multiple domains with one common
controller
AeroVironment has announced its anticipated acquisition of
Tomahawk Robotics, a leader in AI-enabled robotic control systems.
The acquisition will enable deeper integration of both companies’
technology, leading to enhanced interoperability and
interconnectivity of unmanned systems through a singular platform
with similar control features. This will ultimately enable
warfighters to operate various connected robotic solutions in the
battlefield and share information between multiple domains with one
common controller. The two companies entered into a definitive
agreement under which AeroVironment will acquire 100% of Tomahawk
Robotics equity for a total purchase price of $120 million to be
paid in a mix of cash and stock.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20230822417089/en/
Tomahawk Robotics’ portfolio will enhance
interoperability, connectivity and sharing of information between
multiple robotic systems (Photo: Tomahawk Robotics)
Founded by Brad Truesdell and Matt Summer in 2018, Tomahawk
Robotics is the visionary force behind the groundbreaking Kinesis
Ecosystem, an unmatched tactical capability designed for the
warfighter first. At the heart of this innovation lies Kinesis, an
AI-enhanced and open architecture common control system that
seamlessly integrates the network of battle-proven unmanned
expeditionary vehicles, sensors, and third-party software onto a
single pane of glass. Powered by innovation, the Kinesis Ecosystem
delivers targeted situational awareness and precision strike
capabilities for the human-machine teams across the
battlespace.
“The acquisition of Tomahawk Robotics will not only provide
AeroVironment with strong new members of our team, but a quality
brand and products that are widely respected in the industry.
Tomahawk Robotics will become part of the small UAS (SUAS) business
unit within AeroVironment’s Unmanned Systems segment. We intend to
retain all of their workforce and existing facilities in Florida,”
said AeroVironment’s CEO and Chairman Wahid Nawabi. “We will
support all existing Tomahawk Robotics customers and their products
will remain platform agnostic to the market and within the
industry. We also plan to introduce Tomahawk Robotics solutions to
AeroVironment’s growing network of more than 55 allied
nations.”
“Combining features of our Crysalis operating system with
Tomahawk Robotics’ AI-enhanced Kinesis platform means pairing the
best common controller technology with the most ubiquitous unmanned
systems on the market today,” said AeroVironment’s Senior Vice
President of Unmanned Systems Trace Stevenson. Tomahawk Robotics’
Kinesis control system was integrated into AeroVironment’s small
unmanned aircraft family of systems including Raven© B and Puma TM
3 AE in 2022.
“Tomahawk Robotics’ solutions will accelerate our adoption and
implementation of AI and autonomy into AeroVironment platforms,”
continued Stevenson. “We’re confident that the combined experience
and expertise of our two teams will result in a variety of
unmatched unmanned expeditionary vehicles that meet our customers’
emerging needs and exacting standards.”
“Our motto has always been ‘warfighter first.’ Everything we’ve
designed or made has been optimized to better equip and prepare
soldiers on the battlefield,” said Tomahawk Robotics’ CEO Brad
Truesdell. “Joining AeroVironment means our solutions will have a
broader reach and the opportunity to be optimized by not only
AeroVironment’s family of systems, but the broader robotics
community, better enabling warfighters across the globe.”
“Acquiring Tomahawk Robotics strengthens our value to our
customers as we will be uniquely qualified to support multiple
platforms and offer the best solution for their operational needs,”
continued Nawabi. “Tomahawk Robotics’ products will enable
AeroVironment’s solutions to achieve an elevated Modular Open
System Approach (MOSA) desired by our customers, and the
opportunity to expand into new and adjacent markets for
interconnected soldiers with a Common Operating Picture enabled by
AI and autonomy.”
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) is a global leader in intelligent
multi-domain robotic systems, uncrewed aircraft and ground systems,
sensors, software analytics and connectivity. Headquartered in
Arlington, Virginia, AeroVironment delivers actionable intelligence
so our customers can proceed with certainty. For more information,
visit www.avinc.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 successfully consummate the transaction
contemplated by the agreement to purchase Tomahawk Robotics on a
timely basis, if at all, including the satisfaction of the closing
conditions of the transaction; the risk that disruptions will occur
from the transaction that will harm our business or any acquired
business(es); any disruptions or threatened disruptions to our
relationships with our distributors, suppliers, customers and
employees; the ability to timely and sufficiently integrate
Tomahawk Robotics’ operations into our ongoing business and
compliance programs; 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.
For additional media and information, please follow
us:
https://twitter.com/aerovironment
https://www.facebook.com/pages/AeroVironment-Inc/91762492182
https://www.instagram.com/aerovironmentinc/
https://www.youtube.com/user/AeroVironmentInc
https://www.linkedin.com/company/aerovironment
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230822417089/en/
MEDIA CONTACT Ashley Riser AeroVironment, Inc. +1 (805)
750-6176 pr@avinc.com
INVESTOR CONTACT Jonah Teeter-Balin +1 (805) 520-8350
x4278 https://investor.avinc.com/contact-and-faq/contact-us
AeroVironment (NASDAQ:AVAV)
Historical Stock Chart
From Jun 2024 to Jul 2024
AeroVironment (NASDAQ:AVAV)
Historical Stock Chart
From Jul 2023 to Jul 2024