(Source: Yahoo! Finance)
Valmie Resources Inc. (VMRI) announced on Friday it has signed a definitive agreement to acquire Vertitek Technologies, a privately-held technology frontrunner in the unmanned aerial vehicle (UAV) sector. With this acquisition, Valmie obtains rights to Vertitek’s entire portfolio of investigational next-generation UAV designs and autonomous flight controllers. The transaction is expected to close in the coming weeks, subject to the customary closing conditions.
Vertitek’s hardware and software technology enables a sophisticated level of autonomy for UAV’s and other autonomous mobilized devices, including precision guidance controls and advanced safety features. Vertitek’s commercial V-1 Drone℠ is a multi-rotor platform that features a large carbon fiber composite frame with high efficiency brushless motors designed to enhance Valmie’s speed-to-market strategy with an integrated, fully autonomous autopilot leveraging Valmie’s AIMD Platform.
“The commercial uses of drones and other unmanned vehicles will provide billions of dollars in economic growth – and we couldn’t be more pleased to add Vertitek’s resources to our mission-critical assets,” said Gerald B. Hammack, President and CEO of Valmie, commenting on the deal. “This agreement is an exciting growth opportunity that shows promise for long-term profitability. Vertitek is a pioneer in its field and this acquisition will allow Valmie to accelerate commercialization of our groundbreaking AIMD platform, helping us to expand our commitment to excellence and capture market share early on.”
Valmie’s revolutionary end-to-end cloud platform, AIMD (Autonomous Intelligence for Mobile Devices), will help users manage and control independent mobilized devices with a unique set of data services. This new platform, currently in development, will give drones – and other unmanned vehicles – an improved ability to communicate. Vertitek develops components for unmanned vehicles, leveraging the business value that comes from customizing them for specific industries and analyzing the data they collect.
“Everyone, it seems, is talking about unmanned vehicles, especially drones, whether for industry, research or performance art. The skies have never been busier,” said Sean Foster, founder of Vertitek. “The acquisition marks the next step in the collaborative effort of the two companies and an opportunity to expand on the groundwork laid by our team. We have total confidence that our combined resources will propel both companies to new heights.”
Alan is serial entrepreneur, active angel investor, and a drone enthusiast. He co-founded DRONELIFE.com to address the emerging commercial market for drones and drone technology. Prior to DRONELIFE.com, Alan co-founded Where.com, ThinkingScreen Media, and Nurse.com. Recently, Alan has co-founded Crowditz.com, a leader in Equity Crowdfunding Data, Analytics, and Insights. Alan can be reached at alan(at)dronelife.com