Bullish indicating open at $55-$60, IPO prices at $37
TORONTO - Volatus Aerospace Inc. (TSXV:FLTV)(OTCQX:TAKOF (OTC:TAKOF))(FSE:ABBA) has announced the acquisition of Air Data Systems (ADS), a UK-based company specializing in large-scale surveys and data acquisition for industrial applications. This move is part of a strategic expansion to enhance Volatus' global aerial solutions ecosystem.
ADS is known for its proficiency in managing complex projects across various sectors, including oil & gas, utilities, and environmental services. The acquisition includes the ADS brand, website, domain, and a promising sales opportunity pipeline valued at £5 million.
Former ADS Managing Director Mark Currass has been appointed as Executive Consultant for Global Business Development at Volatus Aerospace, bringing his extensive experience in the Unmanned Aerial System (UAS) sector to the table.
Glen Lynch, CEO of Volatus Aerospace, emphasized the significance of this integration, stating it will expand the company's global reach and bolster its industry capabilities, particularly in oil and gas, power utilities, public safety, and agriculture.
The partnership is expected to leverage Volatus' expertise in beyond visual line of sight (BVLOS) operations, thermography solutions, and geomatics services. Volatus boasts over 10,000 BVLOS flights and a leading operations control center, aiming to continue its trajectory of innovation and operational excellence.
This transaction aligns the interests of both entities through a success-fee model based on future contract outcomes, suggesting a shared confidence in the collaboration's potential.
Volatus Aerospace operates as a provider of aerial intelligence and logistics solutions, utilizing both piloted and remotely piloted aircraft systems to serve various industries. The company prides itself on enhancing operational efficiency, safety, and sustainability with its aerial technologies.
This news is based on a press release statement, and the information contained herein includes forward-looking statements subject to various risks and uncertainties. The transaction details have not been disclosed, and the integration's success will depend on future business performance and market conditions.
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