Ondas Holdings acquires drone-operator American Robotics
Ondas Holdings Inc. (NASDAQ: ONDS) has reached agreement to acquire American Robotics, the first drone company to receive Federal Aviation Authority beyond-visual-line-of-sight (BVLOS) approval.
Ondas will pay approximately $70.6 million in a combination of cash and equity securities for American Robotics. The transaction is subject to closing conditions, including approval by the Ondas stockholders of the equity securities to be issued to American Robotics stockholders, and is expected to close in the third quarter of 2021.
“We are excited to bring American Robotics into the Ondas fold,” said Eric Brock, chairman and CEO of Ondas. “At the end of the day, the drone industry’s product is data, not aircraft. The drone is the ultimate data-gathering edge [of computing] device for mission-critical operations, solving a huge pain point for Ondas’ industrial and government customers and ecosystem partners. American Robotics’ full stack IP portfolio is a…