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Mon, Sep 30, 2019

Universal Power Industry Corporation Acquires WavDrone

Technology Start-Up Specializes In Drone Technology

Universal Power Industry Corporation has agreed to acquire WavDrone, LLC a Palo Alto startup that specializes in drone technology.

The start-up (one year old) technology company will be wholly owned by Universal Power and will continue the development of certain drone software and technology primarily for use by the government and military.

The terms and conditions will be announced upon the completion of all legal and governmental approvals and requirements. The respective companies expect the acquisition to be completed no later than October 7, this year.

Universal Power Industry Corporation (UPIN) is a diversified holding company that owns, invests and or manages select businesses, and on special opportunities will provide financing solutions to companies at various developmental stages.

(Source: Universal Power Industry Corp news release)

FMI: upinholdings.com

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