UAV company AgEagle to acquire senseFly from Parrot

AgEagle will acquire senseFly, a Parrot Group subsidiary, for US$23 million.

AgEagle Aerial Systems Inc. is a a provider of drones, sensors and software, and Parrot is a European drone company. Founded in 2009, senseFly develops and produces a proprietary line of eBee-branded, high performance, fixed wing drones for professional use.

The eBee Geo drone was introduced in March. (Photo: SenseFly)

The development positions AgEagle to provide a full-stack fixed-wing drone solution for agriculture, government, engineering and construction, among other industry verticals. SenseFly also brings to AgEagle solid engineering talent focused on advanced research and development, a well-established global reseller network, and a strong portfolio of intellectual property, AgEagle stated in a press release.

The eBee drones are designed to be safe, ultra-light and easy to use. They are in use by thousands of customers around the world in agriculture, government, engineering and construction to collect aerial data. Headquartered in Lausanne, Switzerland, senseFly employs 90 people, generating total annual revenues of US$12.5 million in 2020.

“Recognized as the producer of the world’s most widely used fixed wing drones, senseFly is an ideal strategic fit for AgEagle,” said Brandon Torres Declet, chief executive officer of AgEagle.

Moving forward, Parrot will focus its expertise and resources on the growth of its professional quadcopter drone equipment and drone data analysis software activities, according to Parrot founder and CEO Henri Seydoux. “The transaction will provide additional cash and lower operational expends to drive Parrot’s growth and industry standing,” Seydoux said. “With the capabilities of the ANAFI line of professional drones and of the Pix4D software suites, Parrot will continue to address its core market segments: 3D mapping, surveying and inspection, agriculture, and defense and security.”

In tandem with the closing of the acquisition, which is expected shortly, Labossiere will resign as CEO of senseFly. Michael O’Sullivan, who previously served as the company’s head of global marketing, will be appointed managing director of the new AgEagle subsidiary. All other senseFly employees will retain their current responsibilities.

For details relating to the terms and conditions of the acquisition, refer to the Form 8-K to be filed by AgEagle with the U.S. Securities and Exchange Commission upon closing of the transaction and accessible at www.sec.gov.