Adani Defence Systems and Technologies, a wholly-owned subsidiary of Adani Enterprises, has signed definitive agreement to acquire a 50% stake in Bengaluru-based General Aeronautics in a cash deal.
General Aeronautics provides robotic drones and drone-based solutions for crop protection services, crop health, precision farming and yield monitoring using Artificial Intelligence (AI) and analytics for the agricultural sector, the company said in a statement.
The financial details of the transaction were not immediately disclosed.
The acquisition aligns with Adani Defence’s objectives of providing a platform to start-ups and Micro, Small and Medium Enterprises (MSMEs) for rapid growth and scalability of innovative technologies, it added.
“The cross-industry application of drones is nearly limitless and continues to make great strides. It offers countries like ours the opportunity to leapfrog generations of infrastructure, healthcare, logistics, agriculture and defence advancements and break several process barriers. When combined with next generation imaging technologies, longer battery life, edge based artificial intelligence and machine learning capabilities, the possibilities are endless,” said Adani Defence & Aerospace Chief Executive Officer Ashish Rajvanshi said.
The drone and drone services market in India is expected to grow rapidly to reach `30,000 crore by 2026.