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EriSat Reaches Agreement on Revised Terms to Acquire Aerial Source

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THE STORY:

EriSat LLC., a private diversified contractor of highly engineered industrial products primarily in defense and aviation, announced that it had reached an agreement with sellers of Aerial Source ("Aerial"), a company that specializes in artificial intelligence software where it relates to autonomous unmanned aerial systems, on revised terms for the acquisition of Aerial Source. As previously announced, the UAE Commission cleared the pending acquisition of Aerial Source conditioned upon EriSat's entry into agreements satisfactory to the Commission to implement remedies regarding two product lines - divestiture of the public unmanned aircraft transportation product line and licensing in UAE for the “Overwatch” product line, both manufactured and sold by EriSat's UAS and MAS (Manned Aerial Solutions) business, within its UAV Systems segment. Read more: http://www.digitaljournal.com/pr/3373109#ixzz4lwuKRXgD

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