Malaysia-headquartered drone-based solutions provider Aerodyne Group has acquired a 60 per cent stake in the drone services business of US-based aerial intelligence company Measure UAS.
The services business, in which Measure UAS continues to hold a stake, now forms a new entity named Aerodyne Measure. It will continue to provide aerial inspections and data analysis services to customers in North America.
In a statement, Measure said the deal provides it with capital to grow its standalone software-as-a-service offering for enterprise drone programmes. The US-based firm claims to have conducted thousands of commercial operations for some of the biggest companies in North America. Meanwhile, Aerodyne says it has managed more than 400,000 infrastructure assets with 80,000 flight operations across 25 countries.
“Measure has established quality processes and a reputation for excellent customer service, giving Aerodyne a strong foothold as we expand into the North American market. By combining our expertise, we have created a business that will be a market leader from day one,” said Aerodyne founder and CEO Kamarul A Muhamed.
In October this year, Aerodyne raised $30 million in a Series B funding round co-led by InterVest and Kejora Ventures to ramp up its global expansion. In 2018, it purchased a 60 per cent stake in AtSite, a Denmark-based wind turbine blade inspection company, for $2.7 million to tap into the growing wind energy market.
According to market research firm Drone Industry Insights, both Measure and Aerodyne Group feature among the top 10 drone service providers across the globe.
The defence drone market is expected to reach $70 billion by 2020, while the consumer drone market is forecast to hit $17 billion.