AgEagle Aerial Systems acquired Measure Global, Inc. for Approximately $45 million, a transaction completed in April 2021, structured as combination (cash and stock).
Measure Global, Inc. operates in Drone-operations software (SaaS), is based in Washington, D.C. and Austin, Texas, USA. AgEagle acquired 100% of Measure Global, Inc., an aerial-intelligence software company whose cloud SaaS platform, Ground Control, automates drone-fleet operations, flight control and in-platform data analysis for enterprises. The aggregate purchase price was approximately $45 million, less debt and expenses. It comprised $15 million in cash and $30 million in AgEagle stock, with the company issuing 5,319,145 shares to the Measure sellers. Measure, with operations in Washington, D.C. and Austin, Texas, added the software layer to AgEagle's hardware-and-sensor stack; it was AgEagle's third acquisition overall and second of 2021.
Add best-in-class drone-operations software so AgEagle can offer American-made, end-to-end drone solutions to agriculture, commercial and industrial customers.
Award-winning Ground Control SaaS platform with enterprise customers and technology partnerships (Microsoft, Google, Amazon Web Services). Software layer completing AgEagle's airframe + sensor + software full stack. Became AgEagle's software (SaaS) reporting unit.
Measure represents the next step on our Company's continued path as we evolve in becoming a global leader in end-to-end drone solutions; and it greatly complements our recent acquisition of advanced drone sensor leader MicaSense.J. Michael Drozd, Chief Executive Officer, AgEagle Aerial Systems
AgEagle and Measure are completely aligned on our vision for the future of The Drone Age. As such, this merger represents a powerful marriage of strengths, experience and highly complementary capabilities and know-how that should earn us distinction as the leading provider of true end-to-end drone solutions on a global basis.Brandon Torres Declet, Co-Founder and CEO, Measure Global
Advisory firms were not disclosed for this transaction.