AeroVironment Acquires Planck Aerosystems, a Leading Provider of Advanced Unmanned Aircraft Navigation Solutions
August 17, 2022
- Transaction significantly accelerates AeroVironment’s development of advanced autonomy capabilities for the company’s unmanned aircraft systems
- Embedded flight autonomy solution enables intelligent unmanned aircraft system capabilities for operations from moving vehicles and vessels on land or at sea
ARLINGTON, Va., Aug. 17, 2022 – AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, announced today it has acquired Planck Aerosystems, Inc. (“Planck”), a leading provider of advanced unmanned aircraft navigation solutions. The acquisition will significantly accelerate AeroVironment’s development of advanced autonomy capabilities.
Founded in 2014, Planck has worked closely with customers from the U.S. Department of Defense, security agencies, allied governments and offshore industrials to develop customer-centric unmanned aircraft solutions. Planck’s products include embedded technologies and fully integrated unmanned aircraft systems (UAS) and leverage their deep technical expertise in UAS guidance and navigation, autonomy and artificial intelligence.
Planck is a small technology company based in San Diego, California and will be acquired by AeroVironment’s Petaluma-based medium unmanned aircraft systems (MUAS) business segment to focus on integrating its flight autonomy solutions, such as ACE™ (Autonomous Control Engine), into AeroVironment’s offerings to enable safe, autonomous takeoff and landing from moving platforms on land or at sea in GPS-denied environments. Other solutions include AVEM™, a fully integrated mobile tethered sensor platform designed for persistent autonomous operation from moving vehicles and vessels in any environment, and a suite of machine-learning object detection and tracking systems that are customized for specific end-user needs.
“Planck has a compelling product and technology roadmap with valuable capabilities that we plan to deploy and integrate with AeroVironment’s existing portfolio of intelligent, multi-domain robotic systems,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “The Planck team has developed advanced unmanned autonomy and navigation solutions for various defense and commercial customers and by working together, we believe we offer more compelling and differentiated solutions to our customers moving forward.”
“This transaction accelerates AeroVironment’s innovation in flight autonomy, increasing the effectiveness of our solutions in contested environments and reducing the cognitive load of operators, and adds a tethered SUAS to our portfolio of systems, creating exciting opportunities for upcoming programs of record,” Nawabi added.
“AeroVironment’s heritage of creating innovative solutions to meet customer needs is an ideal fit for the Planck team,” said Josh Wells, Planck chief executive officer. “We couldn’t be more excited about joining forces with AeroVironment to deliver innovative, multi-domain unmanned systems to the next generation of U.S. and allied warfighters. AeroVironment’s reach, technical capabilities and portfolio of unmanned systems will enable the Planck team to scale our products to more customers, and to provide better solutions in less time.”
Canaccord Genuity served as the exclusive financial advisor to Planck Aerosystems, Inc. in connection with the transaction.
ABOUT PLANCK AEROSYSTEMS
Based in San Diego, California, Planck Aerosystems develops and deploys navigation and autonomy solutions for tethered and free flight small unmanned aircraft systems that enable them to operate from moving platforms, including in GPS-denied environments, primarily for defense and industrial applications. Planck Aerosystems’ Autonomous Control Engine (ACE) has been integrated into over 30 different aircraft types of various sizes and configurations. For more information, visit www.planckaero.com.
About AeroVironment, Inc. (AV)
AeroVironment (NASDAQ: AVAV) is a global leader in intelligent multi-domain robotic systems, uncrewed aircraft and ground systems, sensors, software analytics, and connectivity. Headquartered in Arlington, Virginia, AeroVironment delivers actionable intelligence so our customers can proceed with certainty. For more information, visit www.avinc.com.
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