AeroVironment acquires Progeny Systems’ intelligent systems group

AeroVironment said today it has acquired the intelligent systems group of Progeny Systems, which develops artificial intelligence-enabled computer vision, machine learning and perceptive autonomy technologies.

AeroVironment paid $30 million in cash and will add up to $6 million over three years if specific performance targets are met.

“The acquisition will significantly accelerate AeroVironment’s development of advanced autonomy capabilities for the company’s growing portfolio of intelligent, multidomain robotic systems, increase customer-funded research and development revenue and broaden its advanced engineering services offering to defense and commercial customers,” the company said.

Progeny’s intelligent systems group was founded in 2006 and counts the Pentagon and intelligence agencies among its customers. The Manassas, VA-based unit generated more than $10 million in fiscal year 2020 sales and has 40 employees, all of whom will continue in their existing jobs.

AeroVironment said it will merge the ISG team with its MacCready Works Advanced Solutions team “to focus on expanding the company’s customer-funded research and development revenue, while also adding critical expertise and capabilities to expand AeroVironment’s artificial intelligence and autonomy portfolio.”

ISG’s facility will become AeroVironment’s new Artificial Intelligence Innovation Center, the company added.