AeroVironment Strikes $4.1 Billion Deal To Acquire BlueHalo, Expanding Defense Tech Horizons

Benzinga11-19 23:47

AeroVironment, Inc. (NASDAQ:AVAV) shares are trading lower on Tuesday. The company inked into a definitive agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 ...

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(NASDAQ:AVAV) shares are trading lower on Tuesday. The company inked into a definitive agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/aerovironment-strikes-4-1-billion-154704927.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4187","symbol_name":"航天航空与国防","start_time":0,"source_url":"https://finance.yahoo.com/news/aerovironment-strikes-4-1-billion-154704927.html","article_id":"2484228679","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/QSWGdFQN0_L41NZmNOkctg--~B/aD01MDA7dz04ODk7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/6b44b44e84666068c9d699e70fed76f3"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484228679","pubTimestamp":1732031224,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"AeroVironment, Inc.  shares are trading lower on Tuesday. The company inked into a definitive agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 billion.As per the deal, AeroVironment will issue approximately 18.5 million shares of AV common stock to BlueHalo.The acquisition is projected to form a diversified Defense Tech company with a complementary portfolio in Uncrewed Systems, Loitering Munitions, Counter UAS, Space Technologies, Electronic Warfare, and Cyber, all enhanced by AI and Autonomy.The transaction, unanimously approved by both companies’ boards, is expected to close in the first half of calendar 2025, subject to regulatory and AV shareholder approvals, along with other customary closing conditions.Following the transaction’s close, AeroVironment shareholders will hold around 60.5% of the combined company, while BlueHalo’s equity holders will own 39.5%, subject to closing adjustments.AeroVironment expects BlueHalo’s portfolio of 10 flags","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4187":"航天航空与国防","AVAV":"AeroVironment公司"},"translate_title":"AeroVironment以41亿美元收购BlueHalo，扩大国防技术视野","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVAV":1},"content_text":"AeroVironment, Inc. (NASDAQ:AVAV) shares are trading lower on Tuesday. The company inked into a definitive agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 billion.\nAs per the deal, AeroVironment will issue approximately 18.5 million shares of AV common stock to BlueHalo.\nThe acquisition is projected to form a diversified Defense Tech company with a complementary portfolio in Uncrewed Systems, Loitering Munitions, Counter UAS, Space Technologies, Electronic Warfare, and Cyber, all enhanced by AI and Autonomy.\nThe transaction, unanimously approved by both companies’ boards, is expected to close in the first half of calendar 2025, subject to regulatory and AV shareholder approvals, along with other customary closing conditions.\nFollowing the transaction’s close, AeroVironment shareholders will hold around 60.5% of the combined company, while BlueHalo’s equity holders will own 39.5%, subject to closing adjustments.\nArlington Capital Partners, the majority owner of BlueHalo, will retain a significant stake, with most BlueHalo holders entering lock-up agreements—40% releasing 12 months post-close, and the remaining 60% in equal tranches at 18 and 24 months.\nAeroVironment expects BlueHalo’s portfolio of 10 flagship solution families and over 100 patents to integrate seamlessly with its own expertise in Uncrewed Systems, Loitering Munitions, and Advanced Technologies.\nThis synergy will enable the combined company to deliver next-generation technologies, with projected pro forma revenue exceeding $1.7 billion.\nBlueHalo expects to achieve over $900 million in revenue for 2024, with a funded backlog nearing $600 million and a strong pipeline of multi-billion-dollar opportunities.\nIn 2023, BlueHalo generated approximately $886 million in revenue, up from $759 million in 2022 and $660 million in 2021.\nAeroVironment expects the transaction to be accretive to revenue, adjusted EBITDA, and non-GAAP EPS in the first full fiscal year after the deal closes.\nFollowing the completion of the transaction, AeroVironment Chairman, President and CEO Wahid Nawabi will be Chairman, President and CEO of the combined company. Jonathan Moneymaker, CEO of BlueHalo, will serve as a strategic advisor to Nawabi and the combined company management team.\nInvestors can gain exposure to the stock via ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and ARK Space Exploration & Innovation ETF (BATS:ARKX).\nPrice Action: AVAV shares are down 3.67% at $188.84 at the last check Tuesday.\nImage via Pixabay\nRead Next:\n\nWalmart Q3 Earnings: Revenue Beat, eCommerce Growth Shines, Issues Bullish Outlook For FY25\n\nUp Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.\nGet the latest stock analysis from Benzinga?\n\nAEROVIRONMENT (AVAV): Free Stock Analysis Report\n\nThis article AeroVironment Strikes $4.1 Billion Deal To Acquire BlueHalo, Expanding Defense Tech Horizons originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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