AgEagle Aerial Systems Inc. (NYSE American:
UAVS) (“AgEagle” or the “Company”), an industry-leading provider of
drones, sensors and software, and
Parrot (Euronext
Paris: PARRO), a leading European drone group, today jointly
announced that they have signed a definitive agreement under which
AgEagle shall acquire
senseFly, a Parrot Group
wholly-owned subsidiary, in a cash and stock transaction valued at
US$23 million.
Founded in 2009, senseFly develops and produces
a proprietary line of eBee-branded, high performance, fixed wing
drones for professional use. Safe, ultra-light and easy to use,
these autonomous drones are utilized by thousands of customers
around the world in agriculture, government, engineering and
construction, among other industry verticals, to collect actionable
aerial data intelligence. Headquartered in Lausanne, Switzerland,
senseFly employs approximately 90 people, generating total annual
revenues of approximately US$12.5 million in 2020.
Brandon Torres Declet, Chief Executive Officer
of AgEagle, stated, “Recognized as the producer of the world’s most
widely used fixed wing drones, senseFly is an ideal strategic fit
for AgEagle; and is expected to accelerate our core growth strategy
centered on delivering proprietary, full stack drone solutions to
the global agriculture, construction, energy, government sectors,
and in the future, package delivery. In addition, senseFly brings
AgEagle solid engineering talent focused on advanced research and
development, a well-established global reseller network and a
strong portfolio of intellectual property.”
Parrot founder and Chief Executive Officer,
Henri Seydoux, commented, “We trust that senseFly and the eBee line
of fixed wing drones will continue to deliver tangible value,
benefits and efficiencies to AgEagle’s customers and business
partners well into the future. Moving forward, Parrot will focus
its expertise and resources on the growth of its professional
quadcopter drone equipment and drone data analysis software
activities. The transaction will provide additional cash and lower
operational expends to drive Parrot’s growth and industry standing.
With the expended capabilities of the ANAFI line of professional
drones and of the Pix4D software suites, Parrot will continue to
address its core market segments: 3D Mapping, Surveying and
Inspection, Agriculture, and Defense and Security.”
“senseFly has reached a very exciting and
pivotal point in its history and is well positioned to build upon
its leading position in the fixed wing drone market and accelerate
its promising growth trajectory through this strategic combination
with AgEagle,” noted Gilles Labossiere, senseFly’s Chief Executive
Officer. “The impressive mix of solutions for customers and proven
industry experience of both companies is expected to make for a
solid foundation capable of propelling the companies forward and
fueling exponential growth.”
In tandem with the closing of the acquisition
expected shortly, Labossiere will resign as Chief Executive Officer
of senseFly. Michael O’Sullivan, who previously served as the
Company’s Head of Global Marketing, will be appointed as Managing
Director of the new AgEagle subsidiary. All other senseFly
employees will retain their current responsibilities.
Concluding, Brandon Torres Declet added, “We are
very pleased to welcome senseFly to the fast-growing AgEagle family
and look forward to integrating its many strengths with the power
and performance of AgEagle’s proprietary sensor and software
solutions to effectively meet the needs of customers globally. We
would also like to extend our deepest thanks to Gilles for his
leadership at senseFly and the instrumental role he played in the
acquisition process. This is an exciting inflection point for the
AgEagle and senseFly teams.”
For additional details relating to the terms and
conditions of the acquisition, please refer to the Form 8-K to be
filed by AgEagle with the U.S. Securities and Exchange Commission
upon closing of the transaction and accessible at
www.sec.gov.
About AgEagle Aerial Systems
Inc.AgEagle and its wholly owned subsidiaries are actively
engaged in designing and delivering best-in-class drones, sensors
and software that solve important problems for our customers.
Founded in 2010, AgEagle was originally formed to pioneer
proprietary, professional-grade, fixed-winged drones and aerial
imagery-based data collection and analytics solutions for the
agriculture industry. Today, AgEagle is a leading provider of
full stack drone solutions for customers worldwide in the energy,
construction, agriculture, and government verticals. For
additional information, please visit our websites at
www.ageagle.com.
About ParrotFounded in 1994 by
Henri Seydoux, Parrot is today the leading European group in the
fast-growing industry of drones. Visionary, at the forefront of
innovation, Parrot is positioned across the entire drone value
chain, from equipment to services to software. The Parrot Group
gathers outstanding companies and interests in commercial drones,
covering equipment, software and services. Its expert capabilities
are focused primarily on three vertical markets: (i) 3D Mapping,
Surveying and Inspection, (ii) Defense and Security, and (iii)
Agriculture. The Parrot Group designs and engineers its products
and solutions in Europe, mainly in France and Switzerland. It
currently employs about 450 people worldwide and makes the majority
of its sales outside of France. Parrot, headquartered in Paris, has
been listed since 2006 on Euronext Paris (FR0004038263-PARRO). More
information on
http://www.parrot.com.
About senseFlyAt senseFly, we
believe in using technology to make work safer and more efficient.
As the global leader in fixed-wing drones, our proven drone
solutions simplify the collection and analysis of geospatial data,
allowing professionals in surveying, agriculture, engineering, and
humanitarian aid to make better decisions, faster. For more
information, visit
www.senseFly.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements involve
risks and uncertainties that could negatively affect our business,
operating results, financial condition, and stock price. Factors
that could cause actual results to differ materially from
management’s current expectations include those risks and
uncertainties relating to our competitive position, the industry
environment, potential growth opportunities, and the effects of
regulation and events outside of our control, such as natural
disasters, wars, or health epidemics. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
Parrot Contacts: |
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Investors, Analysts, Financial Media |
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Marie Calleux |
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Phone: +33(0) 1 48 03 60 60 |
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parrot@calyptus.net |
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AgEagle Aerial Systems Contacts: |
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Investor Relations: |
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Media: |
Gateway Investor Relations |
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Clarity PR |
Matt Glover or Cody Cree |
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Emily McDonough |
Phone: 949-574-3860 |
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Phone: 609-213-3360 |
Email: UAVS@gatewayIR.com |
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Email: ageagle@clarity.pr |
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