AeroVironment Bolsters Unmanned Systems Segment Via Tomahawk Robotics Deal

AeroVironment Inc AVAV has agreed to acquire 100% of Tomahawk Robotics equity for $120 million, payable in cash and stock.

The acquisition will boost deeper integration of both companies' technology, leading to enhanced interoperability and interconnectivity of unmanned systems through a singular platform with similar control features.

Founded by Brad Truesdell and Matt Summer in 2018, Tomahawk Robotics is the visionary force behind the groundbreaking Kinesis Ecosystem. This AI-enhanced and open architecture common control system weaves the network of battle-proven unmanned expeditionary vehicles, sensors, and third-party software onto a single pane of glass.

"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 Chairman and CEO Wahid Nawabi.

AeroVironment held $132.8 million in cash and equivalents as of April 30, 2023.

Price Action: AVAV shares are trading lower by 0.49% at $93.61 on the last check Tuesday.