AeroVironment purchases fellow unmanned aircraft maker Pulse Aerospace to add not just a new type of vehicle but underlying technology that supports the platform.
AeroVironment has acquired fellow unmanned aircraft maker Pulse Aerospace for $27.5 million in cash to add more vertical takeoff-and-landing capability and other technologies that support the platform.
The deal also includes a potential earnout payment of $5 million depending on meeting certain financial milestones, AeroVironment said Tuesday.
Pulse’s fleet of small VTOL aircraft is eyed as complementary to AeroVironment’s family of fixed-wing unmanned aerial systems. Shortly before the acquisition, Pulse booked a $13 million contract with an undisclosed defense customer for its Vapor unmanned VTOL systems, spares and other services.
In addition to the vehicle, Pulse provides its underlying Helisynth technology for flight control, payload and endurance capabilities.