Continuing its recent growth and acquisition spree, Canadian drone firm Volatus Aerospace has signed a new agreement, agreeing to buy New York-based UAS distributor and integrator Empire Drone Company.
Acquiring Empire Drone Company allows Volatus to establish its presence more firmly in the US and capitalize on the opportunity presented by a burgeoning drone market. Glen Lynch, CEO of Volatus Aerospace, explains:
Volatus is already a major distributor and developer of civil and defense drone solutions in Canada. The addition of Empire Drone solidifies our footprint in America and positions us for improved margins and accelerated growth in America with a US depot and US-based support.
The plan is to purchase Empire Drone for $300,000 in cash and $350,000 in equity takeover. It’s a deal that pleases Sean Falconer, CEO and founder of Empire Drone. Here’s Falconer:
Joining Volatus provides Empire with the resources needed to accelerate our growth, We’ll become a more important partner for our existing OEM suppliers and increase our offering with Volatus technologies such as the Aerieport remote nesting station, Hydra Crawler, and other Volatus defense and public safety products. It’s long been my goal to be a dominant player in the United States and this deal will give me the resources needed to get there.
The acquisition of Empire Drone by Volatus Aerospace is scheduled to close on Dec. 31, 2022, conditional on satisfactory completion of due diligence, approval of the respective board of directors, and regulatory approval by the Toronto Stock Exchange.
Meanwhile, it’s worth highlighting that Volatus is rapidly growing its global footprint in the form of Volatus Aerospace LATAM in South America, Omniview Tech in Canada, and iRed Remote Sensing in the UK. Just last month, the company acquired a majority stake in Alberta-based Synergy Aviation, which specializes in UAV deployment in the inspection of vast expanses of oil and gas infrastructure.