DELTA DRONE and URGO GROUP (holding company), formerly VIVA SANTE, announce the signature of an agreement according to which DELTA DRONE will hold at least 90% of the capital of the company FLY‐N‐SENSE, a long‐standing player in the field of civilian drones based in Bordeaux, subject to approval by DELTA DRONE’s shareholders, who will be called to an extraordinary general shareholders’ meeting to vote on the transaction.
The partnership between the two entities will be implemented via a capital increase by issuing shares with warrants to the current shareholders of FLY‐N‐SENSE and giving them, together, a 10% stake in DELTA DRONE’s capital.
In addition, the share subscription warrants created at this time will allow FLY‐N‐SENSE’s current shareholders, if they exercise their rights, to subscribe to an increase in DELTA DRONE’s capital amounting to a total of €4M.
From a strategic standpoint, the partnership between DELTA DRONE and FLY‐N‐SENSE is the result of the many synergies that exist between the two entities, particularly as regards their targeted markets. Indeed, FLY‐N‐SENSE contributes to the new partnership its acknowledged position in the field of preventing and monitoring forest fires, as well as in the field of viticulture. As regards the engineering of the embedded systems (drone systems), the two companies will be able to share R&D costs and offer a complete range of solutions.
From a capital standpoint, URGO GROUP will become a shareholder of the new whole. DELTA DRONE will retain full managerial autonomy and URGO GROUP will have no seat on DELTA DRONE’s board of directors.
In a market where international competition is tough, this friendly partnership aims to create a French champion of civilian drones for professional use. DELTA DRONE and FLY‐N‐SENSE will now have the legitimacy, talent and financial resources necessary for ambitious development in France and on an international level.
About Fly‐n‐Sense: Fly‐n‐Sense is a French player, a pioneer in technologies for civilian drones used by firefighters in the prevention of and in fighting forest fires. Thanks to the new capital and support of the Urgo Group, Fly‐n‐Sense was able to structure its product line and salesforce in order to grow past the proof‐of‐concept stage and begin its rapid growth.
About Delta Drone: The Delta Drone Group is a renowned player in the field of civilian drones for professional use. It offers a complete service, from data acquisition to data processing through a specifically developed information system, including a supply of professional pilots. These pilots are trained and certified by the Ecole Française du Drone, a subsidiary of the Group.
Delta Drone is listed on the Alternext market of Euronext Paris. ISIN code: FR0011522168.