SIMI VALLEY, Calif.– AeroVironment, Inc. (NASDAQ: AVAV), a worldwide chief in unmanned plane techniques, as we speak introduced it has entered into an settlement to accumulate Telerob Gesellschaft für Fernhantierungstechnik mbH, a German chief in floor robotic options with a worldwide footprint, for roughly $45.four million (€37.5 million) in money, and can pay-off roughly $9.four million (€7.eight million) in Telerob’s debt at closing. Telerob’s shareholder has the potential to obtain a further earn-out over three years of as much as roughly $7.three million (€6 million) primarily based upon reaching particular milestones.
Based in 1994, Telerob provides one of many business’s most superior and complete turn-key unmanned floor robotics options, together with the telemax and tEODor EVO household of UGVs, fully-equipped transport autos and coaching, restore and assist companies. Telerob’s cutting-edge options safely and successfully carry out quite a lot of harmful missions, together with explosive ordinance disposal (EOD), hazardous supplies dealing with (HAZMAT) and chemical, organic, radiological and nuclear (CBRN) menace evaluation. Telerob’s ruggedized UGVs possess all-terrain capabilities and provide a few of the most superior, specialised, precision manipulators, autonomous performance and intuitive operation to ship a excessive diploma of mission flexibility. Telerob’s clients span 45 international locations and quite a few functions, together with homeland safety, emergency response and protection. Telerob is predicated close to Stuttgart, Germany, with its U.S. workplace in Erie, PA.
“Buying Telerob marks a major step towards reaching AeroVironment’s purpose of providing an built-in portfolio of clever, multi-domain robotic options in response to evolving menace environments and buyer necessities for more practical, speedy and cost-effective capabilities,” mentioned Wahid Nawabi, AeroVironment president and chief govt officer. “Telerob’s superior, confirmed floor robotic options present a invaluable functionality to enhance our market main tactical UAS and tactical missile options and handle a broader set of missions for our clients.”
“Telerob’s current monitor document of sturdy income development and its tradition of innovation and agility align extraordinarily properly with AeroVironment. We look ahead to welcoming the proficient Telerob workforce to AeroVironment,” Nawabi added. “Collectively, we are going to concentrate on delivering continued development in our current companies, addressing vital new adjoining market alternatives and creating new applied sciences and mixed options to drive shareholder worth and assist our clients proceed with certainty.”
AeroVironment additionally introduced that it not too long ago submitted a proposal in partnership with Telerob to the US Air Power for its multi-year, EOD robotic system program. AeroVironment’s sturdy monitor document supporting the Division of Protection and its confirmed supply and assist capabilities, coupled with Telerob’s superior robotic system providing, signify a compelling resolution for the Air Power mission. AeroVironment plans to pursue further, vital home UGV alternatives with the US Navy, Marine Corps, Air Nationwide Guard and quite a few police forces. Particular worldwide alternatives embody UGVs for safety at airports in a Center Jap allied nation and a number of UAS applications with the German Federal Ministry of Protection, which Telerob’s native presence helps.
“AeroVironment is a pacesetter in unmanned techniques, with a compelling imaginative and prescient for built-in robotic options that Telerob can assist to realize,” mentioned Norbert Gebbeken, Telerob managing director. “We’re excited to turn out to be a part of the AeroVironment workforce and look ahead to creating and delivering the superior, built-in robotic options that may broaden our attain and assist our clients succeed. We’re assured that working collectively, we are going to speed up the progress underway and create larger alternatives to broaden our geographic and buyer footprint.”
AeroVironment expects the acquisition to be accretive to GAAP EPS in two years, and to non-GAAP EPS in fiscal 12 months 2022, excluding intangible amortization and integration prices. Upon closing, Telerob will function as a wholly-owned subsidiary of AeroVironment, which plans to retain its complete workforce. The acquisition is predicted to shut by the Spring of 2021, topic to German authorities clearance.
BNP Paribas Securities and King & Spalding LLP suggested AeroVironment on the transaction.
About AeroVironment, Inc.
AeroVironment (NASDAQ: AVAV) offers know-how options on the intersection of robotics, sensors, software program analytics and connectivity that ship extra actionable intelligence so you possibly can proceed with certainty. Celebrating 50 years of innovation, AeroVironment is a worldwide chief in unmanned plane techniques and tactical missile techniques, and serves protection, authorities and business clients. For extra data, go to www.avinc.com.
Telerob Gesellschaft für Fernhantierungstechnik mbH is an impartial, medium-sized, owner-managed firm primarily based in Ostfildern close to Stuttgart, Germany, producing protection and homeland safety options. The product vary consists of remote-controlled robots for disarming improvised explosive gadgets and investigating CBRN hazards, totally outfitted service autos in addition to cellular system options making certain the security and safety of essential infrastructure and other people. For extra data, go to https://www.telerob.com/en/.
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