Aerodrome expanding drone offering with $4.5 million acquisition of FlyTech
The Israeli company has its sights set on growing in the U.S. market in which FlyTech has already got a foothold
Golan Hazani | 09:46 11.07.2021
Israeli company Aerodrome, which specializes in developing unmanned aerial systems for the defense sector, is expanding its civilian offering. Calcalist has learned that the company, controlled by CEO Roy Degani, has agreed to purchase Israeli company FlyTech for NIS 15 million (approximately $4.57 million). FlyTech develops drone solutions for the civilian market. The sum will be paid out in a combination of cash and shares. The civilian drone market has undergone significant growth over recent years, with renewable energy, deliveries and agriculture just three of the industries to have recently adopted the technology. Aerodrome has its sights set on expanding in the U.S. market in which FlyTech has already got a foothold. Aerodrome intends to make additional acquisitions in order to further increase its market share in the U.S.