Parrot sells its minority stake in Planck Aerosystems Inc.
Parrot, the European leader in professional drones, announce that it has reached an agreement with AeroVironment, a global leader in intelligent, multi-domain robotic systems, regarding the sale of its 47.2% stake in Planck Aerosystems Inc, a U.S. company (San Diego, California) in which Parrot had initially invested in 2016. As part of a global asset purchase agreement, Planck, which develops and integrates navigation and autonomy solutions for micro-UAVs, will merge with AeroVironment’s medium-sized unmanned aircraft systems (MUAS) commercial segment.
For Parrot, the transaction will result in a payment of approximately $3.2 million, including approximately $1.2 million in debt repayment (convertible loans). Planck was accounted for using the equity method. IFRS 5 “Assets classified as held for sale” has been applied in the financial statements as of June 30, 2022, published on July 28, 2022.
Next financial dates
- 2022 third-quarter business: Thursday November 17, 2022
