AeroVironment to acquire Arcturus UAV

By Marjorie Censer / January 13, 2021 at 7:25 PM

AeroVironment said Wednesday it has agreed to acquire privately held drone maker Arcturus UAV for $405 million.

Founded in 2004 and based in Petaluma, CA, Arcturus UAV has about 270 employees and designs and builds Group 2 and Group 3 unmanned aerial systems and offers related services. The company counts U.S. Special Operations Command and the Army among its customers.

AeroVironment said the $405 million price includes $355 million in cash and $50 million in stock.

Under the terms of the deal, key members of Arcturus UAV's management team will remain in leadership positions, AeroVironment said. Arcturus UAV will operate as a wholly owned subsidiary.

The deal is slated to close by the end of April.