Mobix Labs Enters Agreement To Acquire Drone Maker Vision Aerial
KUALA LUMPUR, June 8 (Bernama) -- Mobix Labs Inc has signed a binding letter of intent to acquire Vision Aerial Inc, a Montana-based manufacturer of American-built drones, as part of its acquisition-led growth strategy.
In a statement, the company said the proposed acquisition would expand its presence in the growing market for drone and aerial intelligence technologies serving defence, national security, public safety, energy and critical infrastructure sectors.
Mobix Labs Chief Executive Officer, Phil Sansone said the acquisition would expand Mobix Labs into one of the world's fastest-growing technology markets while advancing its acquisition-led growth strategy.
Founded in 2013, Vision Aerial designs, manufactures and supports rugged drone systems for demanding field operations. Its aircraft support a range of applications, including search and rescue, wildfire response, infrastructure inspection, environmental monitoring and advanced aerial sensing.
Mobix Labs said global demand for secure, high-performance drone systems is increasing as governments, utilities, energy producers and industrial operators deploy drones to support security, inspection and emergency-response activities.
The company added that growing restrictions on certain foreign-made drones in the United States are accelerating demand for domestically manufactured alternatives.
Vision Aerial's drone platform is expected to complement Mobix Labs' capabilities in advanced electronics, connectivity, radio-frequency (RF) technologies and sensing solutions for aerospace and defence applications.
Financial terms of the transaction were not disclosed. Completion remains subject to the negotiation of a definitive agreement, due diligence and customary closing conditions and approvals.
-- BERNAMA