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AeroVironment Postures As Alternative Defense Prime With Deal To Acquire BlueHalo

Cal Biesecker By
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AeroVironment Postures As Alternative Defense Prime With Deal To Acquire BlueHalo
LOCUST laser weapon system. Photo: BlueHalo.

Unmanned systems developer and manufacturer AeroVironment [AVAV] on Tuesday agreed to acquire defense technology company BlueHalo in a deal that creates a $1.7 billion diversified business and will position it in the mid-tier as an alternative to the larger, legacy defense prime contractors. The proposed all-stock transaction has an enterprise value of $4.1 billion, including BlueHalo’s debt of about $770 million and $100 million in tax assets. The acquisition is subject to approvals by regulators and AV’s shareholders and is…

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