Veloryx to Acquire 70% Stake in Israeli Drone Company Aero Sol for $7 Million
Veloryx is in advanced negotiations to acquire a 70% stake in Aero Sol Aviation Solutions for approximately 26 million shekels ($7 million). The deal also includes an additional investment of around 9 million shekels ($2.4 million) for Aero Sol's development. This acquisition aligns with Veloryx's strategy to become a multidisciplinary homeland security group by integrating complementary technologies.
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Veloryx is finalizing a deal to acquire a 70% stake in Israeli drone manufacturer Aero Sol Aviation Solutions for approximately 26 million shekels ($7 million). Additionally, Veloryx plans to invest around 9 million shekels ($2.4 million) to support Aero Sol's growth.
This acquisition is part of Veloryx's strategy to enhance its portfolio in the homeland security sector by merging with companies that offer complementary technologies. Aero Sol generates annual revenues between 15 million and 20 million shekels ($4 million to $5.4 million) with a 20% EBITDA margin. The unmanned systems market is experiencing growth due to increased demand for advanced drone capabilities in security and defense applications.
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