Strat Aero to buy unmanned aerial vehicle company Geocurve

30th Sep 2015 12:22

(ShareCast News) - Aerospace company Strat Aero has entered into an agreement to acquire privately-owned unmanned aerial vehicle company Geocurve Holdings.The company said the deal was in line with its strategy to rapidly build a vertically-integrated UAV offering, covering all aspects of the value chain including software, hardware and services.Geocurve specialises in the provision of UAV-operated topographical surveys and inspection services to a blue chip customer base, including the UK's Environment Agency, EDF Energy, Carillion, and the RSPB.Stat Aero said it will make an initial payment of £440,000 based on sales to august 2015, half in cash and the other half in new ordinary shares.Chief executive Tony Dunleavy said: "Geocurve is the first of a series of acquisitions the new management team has been evaluating, all of which have the potential to fast track Strat Aero's transformation into the first fully integrated global solutions provider focused on the rapidly growing UAV market."As evidenced by Geocurve's pioneering survey over the Norfolk Broads National Park, the combination of UAVs and highly innovative software solutions and sensors are revolutionising business practices in multiple sectors, and we intend to be at the forefront of this disruptive technology."At 1230 BST, Strat shares were up 34.8% at 5.90p.