AeroVironment, Inc. (AVAV), a defense contractor, Tuesday announced the execution of a deal to acquire BlueHalo LLC for around $4.1 billion, in an all share transaction.
As per the agreement, AVAV will issue around 18.5 million shares to BlueHalo. The transaction is expected to be closed in the first half of 2025.
AeroVironment expects the acquisition to be accretive to its adjusted earnings and revenue in the first full fiscal post-close.
Wahid Nawabi, CEO of AVAV, said: "BlueHalo not only brings key franchises and complementary capabilities, but also a wealth of technologies, diverse customers and exceptional talent to AV."
Post transaction, AVAV's shareholders will own around 60.5 percent of the combined company, while BlueHalo's will have approximately 39.5 percent.
Arlington Capital Partners, an investment firm and the majority owner of BlueHalo, will retain a major ownership stake in the new company.
Following the completion of the deal, AVAV Chairman, President, and CEO Wahid Nawabi will be Chairman, President, and CEO of the combined company.
Jonathan Moneymaker, CEO of BlueHalo, will serve as a strategic advisor Nawabi and the combined company.
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