AgEagle settles senseFly, MicaSense acquisitions at 50% discount
The drone industry, which saw more than 40 mergers and acquisitions in 2021 alone, may do well to take some advice from AgEagle Aerial Systems on both acquisitions and negotiation strategy.
Kansas-based AgEagle, which started out as a commercial agricultural drone company, went on an acquisition conquest last year to become a full-stack drone solutions provider. Spoils included sensor specialist MicaSense and fixed-wing drone maker senseFly. Both came from Europe-based drone group Parrot’s armory. Cash and stock deals were cracked, valued at $23 million each.
Halfway into 2022, a little over $7.35 million still needed to be paid to Parrot. But AgEagle has now informed its investors that it has settled all payment obligations for MicaSense and senseFly acquisitions at a 50% discount.
Commenting on the debt negotiation, Barrett Mooney, chairman and CEO of AgEagle, said:
Thanks to our institutional shareholders who have continued to support our capital…