Drone Volt sells 50% of Aerialtronics to partner at a high valuation
Drone Volt sells 50% of Aerialtronics to partner at a high valuationM&A /CORP. ACTION
Drone Volt has finalised this highly anticipated sale to its American partner Aquiline Drones at a valuation of €15m, which represents an added value of €6m for the French drone company. The discussions for the sale of 50% of Aerialtronics started in January 2021, and the deal was expected by the end of this year.
FACT
Aerialtronics has been a subsidiary of Drone Volt since 2017, when the latter bought 50% of it at €100k due to its liquidation state. Since then, Drone Volt has managed to restructure the business successfully and, by September 2020, Drone Volt bought the remaining 50% for €2.5m as Aerialtronics was valued €5m. Today the company is valued three times this price, which means that through its 50% sale of Aerialtronics to Aquiline Drones, Drone Volt has made €6m in added value.
Drone Volt has, however, managed to keep control of Aerialtronics’ operations, and the subsidiary will remain 100% consolidated in Drone Volt’s financial statements. Aerialtronics is the company that created the Altura Zenith drone and the Pensar camera, which is embedded with AI and offers great potential.
Through this acquisition, Aquiline Drones confirms once again its trust in Drone Volt’s technology and consolidates an already solid partnership.
IMPACT
We have already anticipated this news in our estimates, therefore we reiterate our Buy recommendation.
Drone Volt SA. Drone Volt SA is a France-based company principally engaged in the aerospace industry. The Company provides civilian drone manufacturing. It specializes in the production, integration and sale of drones for professionals. Drone Volt is a provider of the audiovisual market in the field of aerial photography by drone. The Company is also present in many other markets such as security and topography, among others. The Company's main product is the Pack PRO FOR GH4 S900. It cooperates with Ministry of Internal Affaires, Ministry of Defense, CERN, Gendarmerie Transports Aeriens (aerial transport police), Dakar 2015, Spie, TF1, Bouygues, CNRS, Bonne Pioche, RAID and GEDEON Programmes, among others. It operates through Dandrone.
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