The company announced a strategic investment in Israel-based Aerodrome Group and secured a reserved right to establish a U.S.-based joint venture.
Shares of AgEagle Aerial Systems (UAVS) jumped 10% in pre-market trading on Friday, after the company announced a strategic investment in Aerodrome Group, an Israel-based developer of precision loitering munitions and advanced defense technologies.
Aerodrome specializes in technologies that combine autonomy, target discrimination, and advanced aerial warfare capabilities.
AgEagle Aerial Systems, also known as EagleNXT, said the investment will strengthen its autonomous systems and precision-strike technologies. As part of the agreement, EagleNXT also secured a reserved right to establish a U.S.-based joint venture with Aerodrome.
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