AgEagle acquires senseFly from Parrot


WICHITA, Kan. and PARIS and LAUSANNE, Switzerland, October 18, 2021 (GLOBE NEWSWIRE) – AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle” or the “Company”), a leading supplier of drones, sensors and software, and Parrot (Euronext Paris: PARRO), one of Europe’s leading drone groups, today jointly announced the signing of a definitive agreement under which AgEagle will acquire SensFly, a wholly-owned subsidiary of the Parrot Group, in a cash and equity transaction valued at US $ 23 million.

Founded in 2009, senseFly develops and produces an exclusive range of eBee– Branded high performance fixed wing drones for professional use. Safe, ultralight and easy to use, these autonomous drones are used by thousands of customers around the world in agriculture, government, engineering and construction, among other verticals, to collect data insights. exploitable aerials. Based in Lausanne, Switzerland, senseFly employs approximately 90 people, generating total annual revenue of approximately US $ 12.5 million in 2020.

Brandon Torres Declet, CEO of AgEagle, said: “Recognized as the producer of the world’s most widely used fixed-wing drones, senseFly is an ideal strategic choice for AgEagle; and is expected to accelerate our core growth strategy focused on delivering proprietary and comprehensive drone solutions to the global agriculture, construction, energy, government and, in the future, the delivery of package. In addition, senseFly brings to AgEagle strong engineering talent focused on cutting-edge research and development, a well-established global reseller network and a strong intellectual property portfolio.

Parrot Founder and CEO Henri Seydoux said: “We trust senseFly and the eBee The fixed-wing drone line will continue to deliver tangible value, benefits and efficiency to AgEagle’s customers and business partners into the future. In the future, Parrot will focus its expertise and resources on growing its professional activities in quadcopter drone equipment and drone data analysis software. The transaction will provide additional liquidity and lower operating expenses to drive Parrot’s growth and position in the industry. With the extended capabilities of the ANAFI professional drone range and Pix4D software suites, Parrot will continue to address its main market segments: 3D mapping, topography and inspection, agriculture, and defense and security.

“SenseFly has reached a very exciting and pivotal point in its history and is well positioned to strengthen its leadership position in the fixed-wing drone market and accelerate its promising growth trajectory through this strategic combination with AgEagle,” said Gilles Labossière, general manager of senseFly. Officer. “The impressive mix of customer solutions and proven industry experience from both companies should provide a solid foundation that can propel businesses forward and fuel exponential growth. “

Along with the expected finalization of the acquisition, Labossière will resign from his position of general manager of senseFly. Michael O’Sullivan, who previously served as the company’s chief global marketing officer, will be appointed general manager of the new subsidiary AgEagle. All other senseFly employees will retain their current responsibilities.

In conclusion, Brandon Torres Declet added, “We are very pleased to welcome senseFly to the rapidly growing AgEagle family and look forward to integrating its many strengths with the power and performance of proprietary sensor and software solutions. AgEagle to effectively meet the needs of customers around the world. . We would also like to warmly thank Gilles for his leadership at senseFly and the decisive role he played in the acquisition process. This is an exciting inflection point for the AgEagle and senseFly teams.

For further details regarding the terms and conditions of the acquisition, please refer to Form 8-K to be filed by AgEagle with the United States Securities and Exchange Commission at the close of the transaction and accessible at www.sec.gov.

About AgEagle Aerial Systems Inc.
AgEagle and its wholly owned subsidiaries are actively engaged in the design and delivery of top-notch drones, sensors and software that solve problems important to our customers. Founded in 2010, AgEagle was originally created to pioneer professional grade fixed-wing drones and aerial imagery-based data collection and analysis solutions for the agricultural industry. Today, AgEagle is a leading provider of full battery drone solutions for customers worldwide in the energy, construction, agriculture and government verticals. For more information, please visit our websites at www.ageagle.com.

About the parrot
Founded in 1994 by Henri Seydoux, Parrot is today the leading European group in the rapidly growing drone industry. Visionary, at the forefront of innovation, Parrot is positioned across the entire drone value chain, from equipment to services and software. The Parrot Group brings together companies and exceptional interests in commercial drones, covering equipment, software and services. Its expertise capacities are mainly focused on three vertical markets: (i) 3D mapping, surveying and inspection, (ii) defense and security, and (iii) agriculture. The Parrot Group designs and manufactures its products and solutions in Europe, mainly in France and Switzerland. It currently employs around 450 people worldwide and generates most of its turnover outside France. Parrot, headquartered in Paris, has been listed since 2006 on Euronext Paris (FR0004038263-PARRO). More information on http://www.parrot.com.

About senseFly
At senseFly, we believe in using technology to make work safer and more efficient. As a global leader in fixed-wing drones, our proven drone solutions simplify the collection and analysis of geospatial data, enabling professionals in land surveying, agriculture, engineering and humanitarian aid. to make better decisions, faster. For more information visit www.senseFly.com.

Forward-looking statements
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could adversely affect our business, our operating results, financial condition and share price. Factors that could cause actual results to differ materially from management’s current expectations include risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities and the effects of regulation and events beyond our control, such as natural disasters, wars, or health epidemics. We expressly disclaim any obligation or commitment to publicly release any update or revision to any forward-looking statement contained herein to reflect any change in our expectations or any change in the events, conditions or circumstances upon which such statement is based, unless required by law.

Parrot contacts:
Investors, analysts, financial media
Marie Calleux
Telephone: +33 (0) 1 48 03 60 60
[email protected]
Contacts for AgEagle overhead systems:
Investor Relations: Media:
Investor Relations Gateway RP clarity
Matt Glover or Cody Cree Emily mcdonough
Telephone: 949-574-3860 Telephone: 609-213-3360
E-mail: [email protected] E-mail: [email protected]


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