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AV AeroVironment ™ PROCEED WITH CERTAINTY AeroVironment to Acquire Arcturus UAV , Expanding Product Portfolio and Reach into Group 2 and 3 Unmanned Aircraft Systems Segments January 13 , 2021 • Total transaction value of $ 405 million in cash and stock • Arcturus UAV's complementary capabilities provide program diversification , increase key customer penetration and enhance shareholder value • Arcturus UAV is well positioned for ongoing United States Special Operations Command ( USSOCOM ) Mid - Endurance UAS ( MEUAS ) task orders , United States Army Future Tactical UAS ( FTUAS ) program delivery orders and international contracts . Expected to be immediately accretive to revenue growth , adjusted EBITDA margin and non - GAAP diluted EPS , excluding intangible assets , amortization expense and deal and integration costs , and accretive to GAAP diluted EPS by fiscal year 2022 • AeroVironment to host conference call and audio webcast at 2:00 pm Pacific Time today SIMI VALLEY , Calif .-- ( BUSINESS WIRE ) -- Jan . 13 , 2021-- AeroVironment , Inc. ( NASDAQ : AVAV ) , a global leader in unmanned aircraft systems , and Arcturus UAV , Inc. , a privately - held leading provider of Group 2 and 3 unmanned aircraft systems ( UAS ) and services , today announced that they have entered into a definitive agreement under which AeroVironment will acquire Arcturus UAV for a total purchase price of $ 405 million , including $ 355 million in cash and $ 50 million in AeroVironment stock . The transaction , which was unanimously approved by the AeroVironment and Arcturus UAV Boards of Directors , is expected to accelerate AeroVironment's strategy to drive profitable growth and value by expanding into attractive adjacent segments and by broadening its capabilities and customer footprint . This press release features multimedia . View the full release here : https://www.businesswire.com/news/home/20210113005852/en/ AV AeroVironment UNMANNED AIRCRAFT SYSTEMS ARCTURUSUAV ™ UNMANNED AIRCRAFT SYSTEMS AeroVironment , Inc. to Acquire Arcturus UAV , Inc. , Expand Reach into Group 2 and 3 UAS Segments ( Graphic Business Wire ) Founded in 2004 and based in Petaluma , California , Arcturus UAV has approximately 270 employees , designs and manufactures Group 2 and Group 3 UAS and provides related services , including contractor- owned , contractor - operated ( COCO ) services . Arcturus UAV is a leading supplier to the USSOCOM , supporting its $ 1.4 billion MEUAS III and IV programs , and one of four awardees selected for funded development and demonstrations supporting the U.S. Army's FTUAS program , a potential billion dollar , next - generation UAS program . Arcturus UAV has a demonstrated track record of solid performance , with topline growth exceeding 20 percent for each of its last two fiscal years . " We are excited about the opportunities for value creation through our acquisition of Arcturus UAV , which will enable us to accelerate our growth strategy and expand our reach into the more valuable Group 2 and 3 UAS segments , " said Wahid Nawabi , AeroVironment president and chief executive officer . " Group 2 and 3 UAS and services , collectively , potentially represent more than one billion dollars in annual contract value , according to an independent forecast . Combining our