Texas Drone Developer Aero Kinetics Being Sold for $24 Million

London-based Strat Aero has announced plans to buy Texas drone developer Aero Kinetics in a $24 million deal.

Fort Worth-based Aero Kinetics said the agreement will allow for expansion in the rapidly emerging unmanned aircraft systems sector.

Strat Aero on Friday said the acquisition will assist in software, hardware and services related to unmanned aerial vehicles.

Aero Kinetics, founded in 2003, provides aerospace and defense technology and services.

Copyright AP - Associated Press
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