Semiconductor company Mobix Labs Inc. plans to buy Vision Aerial Inc., a Montana-based manufacturer of drones used in national security, government, energy, public safety and critical infrastructure operations.
Once completed, the deal will move Mobix Labs further into the growing drone and aerial intelligence markets, where the compact aircraft are used to inspect critical assets, support emergency response and Âreach dangerous or costly locations (Nasdaq: MOBX).
Vision Aerial’s customers and end users include the U.S. Air Force, U.S. Navy, U.S. Forest Service, defense giant L3Harris, energy and utility operators and research universities.
Mobix Labs Chief Executive Phil Sansone said Vision Aerial’s main attractions as an acquisition target include its status as a U.S.-based manufacturer, its product portfolio and its growth trajectory.
In the United States, federal restrictions on certain foreign-made drones are speeding the shift to domestic systems, and international buyers are increasingly applying similar standards around security, reliability and supply-chain integrity, the companies said.
Advancing Drone System
Mobix calls itself a “fabless semiconductor company,” meaning it designs the chips but outsource their production.
In March, the firm said its AI-driven drone intelligence platform was progressing through ongoing field testing as the company advances development of the system for defense installations and critical infrastructure monitoring.
In September, Mobix Labs said its RaGE division was awarded a new contract to develop drone-based, AI-powered inspection technology for the U.S. rail industry.
“We are interested in both commercial and defense markets for drones,” Sansone told the Business Journal on June 5, emphasizing the huge and growing market for the nimble flying vehicles.
Sansone declined to say how much Mobix Labs will pay for Vision Aerial.
Irvine-based Mobix Labs shares closed at $2.31 apiece on June 8, for a market cap of $37 million. They were trading at $6.86 each a year earlier.
Expanding Market Traction
“Vision Aerial enters the proposed transaction with growing revenue, a growing backlog and expanding market traction across mission-critical drone markets,” the Bozeman, Montana-based company said in a statement on June 5.
Founded in 2013, Vision Aerial designs, manufactures and supports rugged drone systems built for the most demanding field operations. Each aircraft can carry swappable cameras and sensors—from high-resolution and heat-sensing thermal cameras to laser-based 3D mapping and gas-leak detection—allowing one platform to support multiple mission profiles across demanding field operations.
“Vision Aerial expands Mobix Labs into one of the most important technology markets in the world and advances the acquisition-led growth strategy we have previously communicated,” according to Mobix Labs CEO Sansone.
