Mentioned:
Swarmer has a new ambition: unmanned ground vehicles.
What’s happening:
- Swarmer (NASDAQ: SWMR) has entered into a deal to acquire Ukraine based Ratel Robotics in for up to $224M USD
By the numbers:
- Swarmer has committed to paying $7.2M USD in cash and approximately 1M common shares at closing to acquire Ratel Robotics
- The additional cash and common shares will only be issued to Ratel Robotics upon hitting specific revenue and operating income milestones
Why it matters:
- Ratel Robotics manufactures ground robots that are used in front line logistics including casualty evacuation and drone launching
Going deeper:
- Swarmer has publicly stated that Ratel Robotics has approximately secured contracts totalling $86M USD this year
- Swarmer just recently made waves when they made a strategic investment into Erik Prince’s new aerial defense company Vectus Air Defense for a 20% equity stake
The fine print:
- Swarmer will need to get shareholder approval and potential clearance from the Antimonopoly Committee of Ukraine before completing the acquisition
