Drone USA Inc., a developer and manufacturer of low-altitude unmanned aerial vehicles (UAVs) and related technologies, has entered into a joint venture agreement with BRVANT Technologic Solutions, a Brazilian developer and manufacturer of unmanned systems, embedded systems, and simulators for civil and military customers.
Headquartered at One World Trade Center in New York City, Drone USA recently transitioned from Texas Wyoming Drilling Inc. in order to reflect its new line of business, UAVs.
Pursuant to the agreement, the company is acquiring the exclusive rights to BRVANT’s UAV technology and intellectual property, including research and development efforts completed by BRVANT. Drone USA will also secure exclusive export and representation rights to BRVANT’s products, along with the option to acquire full ownership of BRVANT, should the companies agree at a later date it would be in the best interest of both businesses. Financial terms of this transaction have not been disclosed.
In addition to his existing responsibilities at BRVANT, Dr. Rodrigo Kuntz, BRVANT’s CEO, will also join Drone USA as chief technology officer.
“This transaction will strengthen our business prospects in South America and the United States,” says Kuntz. “We are excited to work with the team at Drone USA and look forward to a long and successful partnership.”
“We view this as an opportunity for the company to secure the latest in UAV technology and know-how without extensive research and development costs and the lengthy process that is typically required for new market introductions,” comments Michael Bannon, CEO of Drone USA. “We intend to leverage our agreement by utilizing BRVANT’s Brazilian operations to fulfill operational needs that are currently not being addressed by other UAV platforms. We believe that this agreement is a perfect example of the type of strategic joint venture opportunity and acquisition that we intend to pursue in our ongoing efforts to accelerate Drone USA’s growth and to add value for our shareholders.”