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Parrot: sale of stake in Planck Aerosystems

( - Parrot announced the closure of a deal with AeroVironment for the sale of its 47.
2% stake in Planck Aerosystems, a company based in San Diego (California), in which Parrot had initially invested in 2016.

As part of a global asset purchase agreement, Planck, which develops and integrates navigation and autonomy solutions for micro drones, will merge with AeroVironment's medium-sized unmanned aircraft commercial segment.

For Parrot, the transaction provides for a payment of approximately 3.2 million dollars, of which approximately 1.2 million dollars to repay debts (convertible loans). The professional drone company highlights that Planck is consolidated using the equity method.

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