Universal Power Industry Corporation announced that they have 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.
