AeroVironment Acquires Empirical Systems for $200M

AeroVironment has acquired Empirical Systems Aerospace (ESAero) in a transaction valued at approximately $200 million. The consideration mix is approximately $160 million in stock plus the remainder in cash, subject to post-closing adjustments and holdbacks.

ESAero produces unmanned aircraft systems and advanced air mobility platforms and operates a 32,000 sq. ft. design and prototyping facility and a 53,000 sq. ft. manufacturing facility in San Luis Obispo, CA. The company is AS9100 certified for UAS manufacturing and supports system testing and advanced product development. AeroVironment expects the acquisition to be accretive to adjusted EBITDA in the first year following closing.