AeroVironment Completes Acquisition of Telerob, Expanding Multi-Domain Robotic Systems Offering and Global Presence
May 04 2021 - 9:10AM
Business Wire
- Transaction combines leaders in unmanned aircraft systems (UAS)
and unmanned ground vehicles (UGV) for broader, integrated mission
solutions in air, near-space, ground and maritime domains
- Acquisition expected to be accretive within two years to
AeroVironment GAAP EPS, and accretive to non-GAAP EPS in fiscal
year 2022
- AeroVironment competing for multi-year United States Air Force
Explosive Ordinance Disposal (EOD) robotic system program
AeroVironment, Inc. (NASDAQ: AVAV), a global leader in
intelligent, multi-domain robotic systems, today announced it was
granted clearance from the German government and completed the
previously announced acquisition of Telerob Gesellschaft für
Fernhantierungstechnik mbH (Telerob), in a $45.4 million (€37.5
million) cash transaction and the pay-off of approximately $9.4
million (€7.8 million) in Telerob’s debt at closing. Telerob now
operates as a wholly-owned subsidiary of AeroVironment.
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the full release here:
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AeroVironment completes acquisition of
Telerob, a leader in ground robotic solutions, to expand
multi-domain robotic systems offering and global presence. (Photo:
AeroVironment, Inc.)
“Our acquisition of Telerob marks a significant expansion to our
portfolio of intelligent, multi-domain robotic systems, from small
and medium unmanned aircraft systems, to tactical missile systems
and now, unmanned ground vehicles,” said Wahid Nawabi,
AeroVironment president and chief executive officer. “We welcome
the talented Telerob team and look forward to delivering even more
capability to our customers in the United States and more than 50
allied countries around the world.”
“The entire Telerob team is excited to join forces with
AeroVironment so we can deliver our expanded offering to current
and new customers around the world,” said Norbert Gebbeken, Telerob
managing director. “Delivering intelligent, multi-domain robotic
solutions, both in the air and on the ground, can help more
customers achieve their mission objectives. Working together with
the AeroVironment team in the future has the potential to create
even more compelling solutions in multiple applications and
industries.”
Founded in 1994, Telerob offers one of the industry’s most
advanced and comprehensive turn-key unmanned ground robotics
solutions, including the telemax and tEODor EVO family of UGVs,
fully-equipped transport vehicles and training, repair and support
services. Telerob’s cutting-edge solutions safely and effectively
perform a variety of dangerous missions, including explosive
ordinance disposal (EOD), hazardous materials handling (HAZMAT) and
chemical, biological, radiological and nuclear (CBRN) threat
assessment. Telerob’s ruggedized UGVs possess all-terrain
capabilities and offer some of the most advanced, specialized,
precision manipulators, autonomous functionality and intuitive
operation to deliver a high degree of mission flexibility.
Telerob’s customers span 45 countries and numerous applications,
including homeland security, emergency response and defense.
Telerob is based near Stuttgart, Germany.
AeroVironment submitted a proposal with Telerob for the United
States Air Force 10-year Indefinite Delivery, Indefinite Quantity
(IDIQ) Large Explosive Ordnance Disposal (EOD) robot program,
announced in October 2020. The Air Force has not announced the
awardee for this program.
To learn more about advanced ground robotic solutions from
Telerob, an AeroVironment Company, visit www.avinc.com/ugv.
ABOUT AEROVIRONMENT, INC.
AeroVironment (NASDAQ: AVAV) provides technology solutions at
the intersection of robotics, sensors, software analytics and
connectivity that deliver more actionable intelligence so you can
Proceed with Certainty. Celebrating 50 years of innovation,
AeroVironment is a global leader in unmanned aircraft systems and
tactical missile systems, and serves defense, government and
commercial customers. For more information, visit
www.avinc.com.
ABOUT TELEROB, AN AEROVIRONMENT COMPANY
Telerob, an AeroVironment Company, is a leading manufacturer of
defense and homeland security solutions based in Ostfildern near
Stuttgart, Germany. The product range includes remote-controlled
unmanned ground vehicles for disarming improvised explosive devices
and investigating CBRN hazards, fully equipped service vehicles, as
well as mobile system solutions ensuring the safety and security of
critical infrastructure and people. For more information, visit
https://www.telerob.com/en/.
SAFE HARBOR STATEMENT
Certain statements in this press release may constitute
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995. These statements are made
on the basis of current expectations, forecasts and assumptions
that involve risks and uncertainties, including, but not limited
to, economic, competitive, governmental and technological factors
outside of our control, that may cause our business, strategy or
actual results to differ materially from those expressed or
implied. Factors that could cause actual results to differ
materially from the forward-looking statements include, but are not
limited to, our ability to successfully achieve the anticipated
benefits of the Telerob acquisition, including by retaining key
employees and customers; the risk that disruptions will occur from
the acquisitions that will harm our business or any acquired
businesses; any disruptions or threatened disruptions to our
relationships with our distributors, suppliers, customers and
employees; the ability to timely and sufficiently integrate
acquired operations into our ongoing business and compliance
programs, including the expansion of international locations; our
ability to perform under existing contracts and obtain additional
contracts; changes in the regulatory environment; the activities of
competitors; failure of the markets in which we operate to grow;
failure to expand into new markets; failure to develop new products
or integrate new technology with current products; and general
economic and business conditions in the United States and elsewhere
in the world. For a further list and description of such risks and
uncertainties, see the reports we file with the Securities and
Exchange Commission. We do not intend, and undertake no obligation,
to update any forward-looking statements, whether as a result of
new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210504005768/en/
Makayla Thomas AeroVironment, Inc. +1 (805) 520-8350
pr@avinc.com Mark Boyer For AeroVironment, Inc. +1 (213) 247-4109
mark@boyersyndicate.com
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