Aircraft manufacturer Embraer said on Tuesday (20) that it had signed an agreement to acquire a minority stake in Brazilian drone company XMobots, according to a statement.
The value of the transaction was not disclosed and Embraer said it has the option of making an additional contribution in the future, without giving details.
Embraer stated that the companies intend to work together to create memoranda of understanding related to operations in civil and defense and security markets.
Among other factors, Embraer also mentioned the intention to “expand the network of collaboration in research of new technologies that have synergies with the areas of technological development, business units and innovation of Embraer, as well as Embraer-X”.
“With this investment, we will be able to walk together in the development of technologies that will consolidate autonomous aerial robots and accelerate solutions for the geotechnology, agribusiness, environmental, inspection, defense and public safety, logistics and urban mobility markets that are points of convergence between XMobots and Embraer,” said Giovani Amianti, chief executive of XMobots, in a statement.
The transaction will be carried out via an investment fund whose sole shareholder is Embraer.
Completion of the transaction is subject to compliance with conditions and obtaining approvals customary for this type of transaction, according to the statement.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
