Mentioned:
The race for American drone dominance is well underway. And now, Unusual Machines is making a new acquisition to expand into software.
What’s happening:
- Unusual Machines (NASDAQ: UMAC) has announced they have entered into an agreement to acquire drone software company Aloft Technologies
By the numbers:
- The acquisition is valued at $14.5M USD and will be paid for in common shares of Unusual Machines
- Currently, Aloft Technologies controls 70% of the FAA approved drone space authorizations in the United States of America
- Aloft Technologies has approved 1.6M total authorizations for drones since inception
Why it matters:
- The new acquisition is aiming to transform Unusual Machines into a dominant drone technology platform company, with both their own hardware and software
Going deeper:
- Unusual Machines has been making rapid moves to become a leader in American drone technology, including just recently launching their domestically manufactured Rotor Riot Brave 5A Electronic Speed Controller for controlling the motor speed and direction of drones
