AgEagle Aerial Systems Inc. (NASDAQ: UAVS) stock declined by 1.42% at last close whereas the UAVS stock price surges by 15.52% in the after-hours trading session. AgEagle and its wholly-owned subsidiaries are dedicated to developing and provides quality drones, sensors, and software that address critical challenges for their clients.
UAVS stock’ Current Update
AgEagle Aerial Systems and Parrot, a major European drone company, have stated that they have reached into a formal deal for AgEagle to purchase senseFly, a Parrot Group wholly-owned subsidiary, for US$23 million in cash and shares.
senseFly, founded in 2009, designs and manufactures a series of eBee-branded, fixed-wing drones with great performance, for industrial usage. These autonomous drones are used by thousands of clients across the world in agricultural, government, engineering, and construction, among other industry verticals, to capture relevant aerial data intelligence. They are secure, ultra-light, and simple to use. senseFly, based in Lausanne, Switzerland, employs over 90 employees and expects to generate total yearly revenues of around US$12.5 million in 2020.
Brandon Torres Declet, Chief Executive Officer of AgEagle, commented,
senseFly, the world’s most extensively used fixed-wing drone manufacturer, is a perfect strategic focus for AgEagle. It is anticipated that it would enhance their primary growth strategy of offering unique, complete stack drone services to the worldwide agricultural, construction, energy, government, and, in the future, package delivery industries. SenseFly also provides AgEagle significant engineering expertise centered on innovative research and development, a well-established worldwide reseller network, and a robust intellectual property portfolio.
They are glad to introduce senseFly to the AgEagle family, and they look forward to combining its numerous strengths with the power and efficiency of AgEagle’s patented sensor and software solutions to fulfill the demands of clients across the world. They’d also want to express their heartfelt gratitude to Gilles for his expertise at senseFly and the crucial role he played in the purchase. For the AgEagle and senseFly teams, this is an exciting turning moment.
Moreover,
Labossiere will leave as Chief Executive Officer of senseFly when the deal closes, which is likely to happen soon. Michael O’Sullivan, who formerly acted as the Company’s Head of Global Marketing, will lead the new AgEagle subsidiary as Managing Director. All other senseFly workers will continue to work in their present roles.
