AgEagle Aerial Systems Acquires Measure
AgEagle Aerial Systems Announces Acquisition of Measure
Measure, a leading provider of aerial intelligence solutions for the agriculture industry, has been acquired by AgEagle Aerial Systems, Inc. (NYSEAMERICAN:UAVS). The acquisition was completed on August 1, 2023, for $13.4 million in cash and stock, subject to customary closing adjustments. The acquisition is expected to be accretive to AgEagle's earnings per share in 2023.
Measure's proprietary software and services provide farmers with valuable insights into their operations, enabling them to make more informed decisions about crop management, irrigation, and other farming practices. Measure's technology has been used to collect and analyze data from over 100 million acres of farmland worldwide.
The acquisition of Measure is a strategic move for AgEagle, as it expands the company's portfolio of aerial intelligence solutions and strengthens its position in the agriculture market. Measure's technology will be integrated with AgEagle's existing products and services, providing farmers with a comprehensive suite of data-driven solutions to improve their operations.
Benefits of the Acquisition for AgEagle
- Expands AgEagle's portfolio of aerial intelligence solutions
- Strengthens AgEagle's position in the agriculture market
- Provides farmers with a comprehensive suite of data-driven solutions to improve their operations
Benefits of the Acquisition for Measure
- Provides Measure with access to AgEagle's global distribution network
- Accelerates Measure's growth and expansion plans
- Gives Measure the opportunity to integrate its technology with AgEagle's existing products and services
The acquisition is a major milestone for both AgEagle and Measure, and it is expected to have a significant impact on the agriculture industry. AgEagle's CEO, Barrett Mooney, said, "We are excited to welcome Measure to the AgEagle family. Measure's technology and expertise are a perfect complement to our existing products and services, and we believe that together we can provide farmers with the most comprehensive and innovative aerial intelligence solutions on the market."
Measure's CEO, James Bowe, said, "We are thrilled to be joining forces with AgEagle. AgEagle's global reach and resources will enable us to accelerate our growth and expansion plans, and we look forward to working together to provide farmers with the data and insights they need to succeed."
