AeroVironment (AVAV.US) has agreed to buy BlueHalo, a private defense contractor in the United States, for $410 million.
1min read AeroVironment(AVAV.US) has entered into an agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 billion. The transaction is expected to be completed in the first half of 2025. AeroVironment expects the transaction to increase its revenue, adjusted EBITDA, and non-GAAP EPS in the first full year following the closing of the transaction.
According to the information, AeroVironment designs, develops, produces, supports, and operates unmanned aircraft systems and electric transportation solutions. BlueHalo is a private defense and intelligence contractor in the United States. Over the years, the company has been committed to providing industry-leading products and solutions in the areas of space superiority, space technology, directed energy/counter-unmanned aircraft systems (c-UAS), autonomous advanced radio frequency (RF), network, and signal intelligence (SIGINT).
BlueHalo's revenue is expected to exceed $900 million in 2024, with nearly $600 million in cash reserves and multiple opportunities and record projects worth billions of dollars. In addition, BlueHalo's revenue in 2023 is approximately $886 million, and its revenue in 2022 and 2021 is $759 million and $660 million, respectively.
As of the time of writing, AeroVironment's shares fell nearly 5% before the market opened on Tuesday.