(CercleFinance.com) – Parrot announces that it has reached an agreement with AeroVironment, concerning the sale of its 47.2% stake in Planck Aerosystems, a company based in San Diego (California) in which Parrot had initially invested in 2016.
Under a global asset purchase agreement, Planck, which develops and integrates navigation and autonomy solutions for micro-drones, will merge with the mid-size unmanned aircraft systems business segment from AeroVironment.
For Parrot, the transaction provides for a payment of approximately $3.2 million, including approximately $1.2 million in repayment of receivables (convertible loans). The professional drone company recalls that Planck was consolidated by the equity method.
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