Conshohocken, PA, [December 17, 2019] - American Aerospace Technologies, Inc. (AATI) announced today it has acquired the assets of PAE ISR LLC, including the Resolute Eagle, a Group 3 unmanned aircraft system. The acquisition was financed by Riva Ridge Capital Management.
AATI is an industry leading provider of airborne intelligence and communications systems for oil & gas and other critical infrastructure operators. The acquisition, a result of PAE’s planned divestiture of its original equipment manufacturing (OEM) business, expands AATI’s offerings in the unmanned aircraft systems (UAS) market.
“With the acquisition of PAE ISR’s assets, we are extending the product depth and customer penetration of AATI. The widely recognized capabilities and proficiency of the Resolute Eagle is a natural fit with our existing portfolio,” said David Yoel, founder and chief executive officer of AATI. “We see enormous potential for Beyond Visual Line-of-Sight (BVLOS) UAS in critical infrastructure applications. As we enter the era of unmanned commercial aviation, this acquisition gives us an expanded presence in the rapidly accelerating BVLOS UAS market.”
Designed for reliable landing and recovery without a runway, the Resolute Eagle is one airframe that has two configurations: conventional takeoff and landing, and a hybrid vertical takeoff and landing alternative. Both are designed to operate from small areas in difficult terrain and are expected to enable a wide-range of applications, including in the midstream and upstream oil & gas, telecom and emergency response markets, among others.
AATI is also the OEM of the InstiMaps Automated Threat Detection System, a cloud-connected multispectral sensor solution with onboard AI that has been integrated with the Resolute Eagle. InstiMaps offers business and government enterprise customers an end-to-end solution that delivers critical imagery through a cloud-based intelligence gateway to end users across an enterprise in near real-time.
Riva Ridge Capital Management LP is a New York-based special situations investment manager focused on creating unique investments from businesses or assets that are either overlooked or under-followed. Riva Ridge has been investing in both the public and private markets since inception in 2003, primarily through distressed credit and other event-driven opportunities. For more information please email Peter Finelli (email@example.com) or Jesse Rosenfeld (firstname.lastname@example.org).
American Aerospace Technologies, Inc. (AATI) is a real-time remote sensing services company focused on infrastructure patrol and emergency response. The company has been flying long endurance unmanned aircraft in civilian applications since 2010.
For more information concerning the transaction, AAT’s plans with respect to the assets acquired and Resolute Eagle, please contact: Brian Mahoney at +1 (201) 575-6470, email@example.com.
FOR IMMEDIATE RELEASE
17 December 2019
Contact: Brian Mahoney, Tel: +1 (201) 575-6470 Email: firstname.lastname@example.org