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Shield AI to Acquire Martin UAV to Enable GPO and Communications on V-BAT.

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MANews-(C)2009-2021

San Diego-based AI-driven technology company Shield AI, developing artificial intelligence and self-driving car technologies for the defense industry, has agreed to acquire Texas-based aerospace company Martin UAV, to enable GPS and communications-denied operation onboard Martin UAV's V-BAT, the company said.

Terms of the transaction were not disclosed.

The acquisition of Martin UAV complements a deliberate strategy to integrate Hivemind onto unmanned systems for defense and commercial applications.

Shield AI is building a portfolio of systems via vertical integration and strategic partnerships centreed around its Hivemind AI and autonomy stack.

Shield AI retained JPMorgan Chase and Co. as exclusive financial advisor and Reed Smith LLP as legal advisor in connection with the transaction. Martin UAV retained Houlihan Lokey as...

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