The combination cash and stock transaction for Measure, valued at $45 million, is the latest move in publicly-traded AgEagle Aerial Systems (NYSE American: UAVS) efforts to “become the company of choice for end-to-end drone solutions,” says a company release.
AgEagle was founded in 2010 as a services provider to the agriculture industry. Measure was founded in 2014 as a drone services provider with a franchise model. Both companies have evolved with the drone industry: AgEagle now offers drone manufacturing and development services, drone delivery services, and software and services for the agriculture sector, including a specialty offering for hemp farmers. AgEagle acquired multispectral sensor company MicaSense in January of this year, bringing them into the sensor space.
Measure’s inspection services business was acquired by AeroDyne in 2019: since then, the company has focused on their SaaS drone operating solution, Ground Control. “Ground Control is a cloud-based, plug-and-play operating system that empowers pilots and large enterprises with everything they need to operate drone fleets, fly autonomously, collaborate globally, visualize data and integrate with existing business systems and processes,” says the release. Measure has “Focused initially on commercial applications for drones, including agriculture, infrastructure, construction and insurance, Measure has also expanded into the government and military domain, and recently announced a project with the U.S. Air Force,” says the press release.
Michael Drozd, CEO of AgEagle, stated, “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. In addition to established industry partnerships with Microsoft, Google, Amazon Web Services and other leading technology companies, coupled with a growing global customer base for its Ground Control software platform, Measure brings to AgEagle a world class team of drone technology experts with deep operational experience, tens of thousands of successful missions and industry recognition and respect as one of the world’s leading aerial intelligence solutions companies.”
Brandon Torres Declet, Co-Founder and CEO of Measure and recently appointed member of the FAA’s Drone Advisory Committee, added, “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.”
For more detailed information about the acquisition, please refer to the related Form 8-K filed by AgEagle with the U.S. Securities and Exchange Commission and accessible at www.sec.gov.
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, a professional drone services marketplace, and a fascinated observer of the emerging drone industry and the regulatory environment for drones. Miriam has penned over 3,000 articles focused on the commercial drone space and is an international speaker and recognized figure in the industry. Miriam has a degree from the University of Chicago and over 20 years of experience in high tech sales and marketing for new technologies.
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