Groupe Gorge Acquires French Drone Company

Posted by UAO Staff on April 22, 2014 No Comments
Categories : Business Operations

Industrial company Groupe Gorge, via subsidiary ECA, has agreed to acquire 100% of the capital of INFOTRON from Remote Reward. INFOTRON is a French company that develops and markets helicopter-type vertical takeoff drones.

Groupe Gorge reports that the acquisition is being paid for with EUR 2.5 million in cash and 375,000 new ECA shares. The company notes that in order to accelerate completion of the deal, given the legal delays involved in issuing the new shares, it will provisionally take over INFOTRON in exchange for its own ECA shares. Groupe Gorge will subsequently transfer INFOTRON to ECA on the same terms, receiving the newly created shares in exchange, and ECA will then become sole shareholder of INFOTRON.

According to Groupe Gorge, INFOTRON specializes in professional drones for military or civilian inspection, detection and identification applications. The acquisition, the company adds, will allow INFOTRON to ramp up its commercial expansion.

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