Drone technology company AgEagle makes third acquisition

US-based drone technology firm AgEagle Aerial Systems Inc. has been in business for over a decade. This week the company announced the acquisition of an award-winning aerial intelligence solutions company – Measure Global Inc. in a combination cash and stock transaction valued at approximately US$45 million. This latest acquisition by AgEagle is the company’s third and aligns with AgEagle’s core strategy to ‘acquire and integrate only the best-in-class drone technologies required to deliver American-made, tailored drone solutions to the world’.

Ground Control – Measure’s SaaS solution

Founded in 2014, Measure is an aerial intelligence company with operations in Washington, D.C. and Austin, Texas. Measure’s comprehensive SaaS solution – Ground Control – provides end-to-end program management, empowering pilots and large enterprises with everything they need to operate drone fleets, fly autonomously, collaborate globally, visualize data and integrate with existing business systems and processes. The company’s existing customer base already includes Syngenta and many Fortune 500 companies.

In August 2019, Measure was recognized by Frost & Sullivan with its Frost Radar Best Practices Award for Growth Excellence in the Drone Services Provider market. Measure received the highest score on Frost & Sullivan’s Growth Index, which reflects a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and effective sales and marketing tactics. Focused initially on commercial applications for drones, including agriculture, infrastructure, construction and insurance, Measure has also expanded into the government and military domain, and recently announced a project with the U.S. Air Force.

AgEagle’s previous drone technology acquisitions

In January 2021 AgEagle acquired Seattle-based MicaSense in a combined cash and stock transaction valued at US$23 million. MicaSense’s patented, high precision thermal and multispectral sensors serve the aerial mapping and analytics needs of the agriculture market, and are well positioned to address applications in advanced inspection in the energy and insurance sectors and autonomous flight safety for package delivery, among other solutions.

AgEagle’s first acquisition took place in August 2018 when the firm bought Agribotix – a drone enabled software company that provided advanced imaging and data analysis for sustainable and precision agriculture. Agribotix’s FarmLens data analytics platform was integrated within AgEagle’s own service offerings to provide the agricultural supply chain with advanced analytic capabilities to identify areas where they can enhance soil health and reduce water or chemical application.

On the latest acquisition Michael Drozd, CEO of AgEagle, said, “Measure represents the next step on our Company’s continued path as we evolve in becoming a global leader in end-to-end drone solutions; and it greatly complements our recent acquisition of advanced drone sensor leader MicaSense. In addition to established industry partnerships with Microsoft, Google, Amazon Web Services and other leading technology companies, coupled with a growing global customer base for its Ground Control software platform, Measure brings to AgEagle a world class team of drone technology experts with deep operational experience, tens of thousands of successful missions and industry recognition and respect as one of the world’s leading aerial intelligence solutions companies.”

Brandon Torres Declet, Co-Founder and CEO of Measure and recently appointed member of the FAA’s Drone Advisory Committee, added, “AgEagle and Measure are completely aligned on our vision for the future of The Drone Age™. As such, this merger represents a powerful marriage of strengths, experience and highly complementary capabilities and know-how that should earn us distinction as the leading provider of true end-to-end drone solutions on a global basis.”