The acquisition secures patented world-leading last-mile unmanned delivery technology and extends the product and customer portfolio within the Defense & Security business area.
“The acquisition of AirRobot gives access to a strong and proven portfolio of products and patents. It includes an excellent position in the German defence market and an exciting technological roadmap for the global unmanned last-mile logistics market. We are very happy to welcome the strong and experienced team of 30 developers and production staff, located in one of the most important European markets, to the Nordic Unmanned family. The increased product portfolio within the logistic and defence business areas will contribute strongly to our communicated 2025 growth strategy.”
Knur Roar Wiig, CEO Nordic Unmanned.
Experienced supplier for the German armed forces
Founded in 2005, AirRobot is a true pioneer in the European drone industry. AirRobot had revenues of EUR 2.3 million in 2020 and a profit before tax (EBT) margin of 5%. The company is a long-standing supplier for the German armed forces (“Bundeswehr”) of both drone systems and Maintenance, Repair and Overhaul (“MRO”) services since 2005.
During the past years, the company has invested heavily in next generation drones, to position itself for a major ongoing defence contract in Germany. The company holds ISO 9001 certification as a drone developer and manufacturer and is fully certified to deliver to German and other NATO forces.
This transaction is in line with our announced strategy of consolidating the fragmented drone industry in Europe. It builds on the strong and booming defence industry relationship between Germany and Norway following the joint submarine programme recently agreed between the two nations. With this transaction we will be able to serve our current clients within the German and Norwegian governments in an even better manner
Knur Roar Wiig, CEO Nordic Unmanned
AirRobot is located in the city of Arnsberg in the Ruhr region, in the heart of the German industrial area.
- Key products and technologies
AirRobot possesses a line of proprietary drone systems with more than 16 000 flight hours to date: Important in relation to German army, potential for sale to other armed forces in Germany and other countries.
- Coaxial motor configuration patent in Germany, UK, US, Canada, Ireland, and several other key markets: A design currently used by several logistical drones, including Nordic Unmanned’s own Staaker BG200 system.
- Last-mile delivery drone solution: Complete, patented and highly scalable logistic last mile platform concept for global clients.
The acquisition of AirRobot adds revenue, a full operational team and an exciting new CRM pipeline for Nordic Unmanned from day one. Long-term, AirRobot will give us the realisation of the patented concept for last-mile logistics, placing Nordic Unmanned as a front runner in the global unmanned logistics market. I highly recommend those with an interest in our industry to view the AirRobot video available online, highlighting this truly revolutionary and scalable concept
Knur Roar Wiig, CEO Nordic Unmanned
The transaction will be settled at closing with 80 percent in cash and 20 percent in Nordic Unmanned shares, issued in line with the board’s authorization, for a total value of EUR 4.45 million. The shares will serve as escrow for the certain seller’s guarantee obligations for 18 months. The seller has the option to choose between shares or cash at release of the escrow. An additional EUR 0.5 million in cash is payable if certain performance targets are met.
The seller is AirRobot’s founders and current CEO and CFO, Mr. Burkhard Wiggerich and Mrs. Jolante Wiggerich. Upon completion of the transaction, they will renounce their posts but will continue to assist the company as required.
This is the perfect match for AirRobot. As a listed, international company, Nordic Unmanned provides a wonderful platform for further growth, based on our strong technology platform and our position in the German market
Burkhard Wiggerich, CEO AirRobot.
The transaction is subject to Investment Control Approval from German authorities and is expected to take place before year end.
Source: Press Release
UAV DACH: Beitrag im Original auf https://www.uasvision.com/2021/07/19/nordic-unmanned-acquires-airrobot/, mit freundlicher Genehmigung von UAS Vision automatisch importiert. Der Beitrag gibt nicht unbedingt die Meinung oder Position des UAV DACH e.V. wieder. Das Original ist in englischer Sprache. Für die Inhalte ist der UAV DACH e.V. nicht verantwortlich.