AgEagle Aerial Systems acquired senseFly (senseFly S.A. and senseFly Inc.) for $23 million, a transaction completed in October 2021, structured as combination (cash and stock).
senseFly (senseFly S.A. and senseFly Inc.) operates in Fixed-wing drones, is based in Lausanne, Switzerland, had revenue of about Approximately US$12.5 million (2020). AgEagle acquired 100% of senseFly, comprising Swiss entity senseFly S.A. ($21 million) and U.S. entity senseFly Inc. ($2 million), from Parrot's Parrot Drones S.A.S. and Parrot Inc., for a combined $23 million. Founded in 2009 and headquartered in Lausanne, Switzerland, senseFly makes the eBee line of professional fixed-wing mapping drones and employed about 90 people, generating roughly $12.5 million of revenue in 2020. About $3 million of the consideration was payable in AgEagle stock (issuable 90 days after closing), with the remainder in cash and holdbacks. The deal gave AgEagle a market-leading fixed-wing airframe line, engineering talent and a global reseller network.
Acquire the world's most widely used fixed-wing drones to deliver proprietary, full-stack drone solutions to agriculture, construction, energy and government sectors.
Market-leading eBee fixed-wing drones, ~90-person engineering team and an established global reseller network. Fixed-wing airframes rounding out AgEagle's full-stack hardware/sensor/software portfolio. senseFly S.A. and senseFly Inc. held under AgEagle Aerial, Inc.
Recognized as the producer of the world's most widely used fixed wing drones, senseFly is an ideal strategic fit for AgEagle; and is expected to accelerate our core growth strategy centered on delivering proprietary, full stack drone solutions to the global agriculture, construction, energy, government sectors, and in the future, package delivery.Brandon Torres Declet, Chief Executive Officer, AgEagle Aerial Systems
senseFly has reached a very exciting and pivotal point in its history and is well positioned to build upon its leading position in the fixed wing drone market and accelerate its promising growth trajectory through this strategic combination with AgEagle.Gilles Labossiere, Chief Executive Officer, senseFly
Advisory firms were not disclosed for this transaction.