AeroVironment divests efficient energy systems business

AeroVironment said today it has agreed to sell its efficient energy systems business segment to Webasto Group for $35 million.

Under the deal, Webasto, an auto industry supplier, will retain EES employees.

In its announcement, AeroVironment said it conducted a robust process to identify potential acquirers. Selling the EES business will allow the company to focus on its unmanned aerial systems, tactical missile systems, high-altitude pseudo-satellite and commercial information solutions businesses, AeroVironment said.