Broke cargo drone specialist Volansi bought by Sierra Nevada Corp
Aerospace and defense company Sierra Nevada Corporation (SNC) revealed it has acquired financially stricken autonomous cargo drone maker Volansi in a cash transaction whose amount was not disclosed.
SNC announced the deal Monday, but says it was finalized late last month in the wake of Volansi’s August filing for assignment for the benefit of creditors – an alternative to bankruptcy. Through its purchase, SNC takes possession of Volansi’s intellectual property and assets – including the Voly-50 and Voly-T line of cargo drones – and production facilities in Bend, Oregon.
Trouble began accumulating for Volansi earlier this year after it reportedly lost $75 million in financing it had been promised by venture capital backers. The company’s diversification from cargo drones to UAVs with military applications gave it attractive, overlapping activities with SNC once its money ran out. Indeed, the two companies had been working together…