Benzinga | May 17, 2021 07:15AM EDT

Ondas Holdings Announces Definitive Agreement to Acquire American Robotics

Ondas Holdings Inc. (NASDAQ:ONDS), a developer of proprietary, software-based wireless broadband technology ("Ondas" or the "Company"), today announced that it has entered into a definitive agreement to acquire American Robotics, a leading developer of fully-automated commercial drone systems and the first and only company approved by the FAA to operate its drones beyond-visual-line-of-sight ("BVLOS") without a human operator on the ground. This acquisition will integrate the two companies' technology platforms and increase automation, data collection, and AI-powered analytics in industrial markets allowing for the improved maintenance, monitoring and operation of critical infrastructure.

American Robotics brings together best-in-class IP, a Robot-as-a-Service business model, and its historic FAA approvals to deliver an industrial drone service capable of unlocking the $100 billion commercial drone market. Unlike other drone technology, American Robotics' Scout System(tm) provides an unmatched level of autonomy, safety, and analytics with its industrial-grade design and advanced, AI-powered software.