Delta Drone International to Expand Its Australian Drone-Based Services Through Acquisition of Arvista Pty Ltd

ASX Announcement

DELTA DRONE INTERNATIONAL TO EXPAND ITS AUSTRALIAN DRONE-BASED SERVICES THROUGH ACQUISITION OF ARVISTA PTY LTD

Highlights:

• Delta Drone International to acquire a majority stake in Arvista Pty Ltd – a Perth-based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries. Established in 2012, Arvista has strong experience in providing unmanned aerial vehicles (UAV) services with a growing client base
• Acquisition is to further strengthen Delta Drone’s drone-based data service and technology solutions for its enterprise clients, and this is expected to further accelerate the Company’s growth in the Australian market
• Delta Drone to initially acquire 60% of Arvista for a purchase price of around $960,00 (based on an enterprise value of $1.6 million), in a combination of cash and scrip, with a Call Option to acquire the remaining 40% of Arvista in the future
  
  

16 August 2021 – Global Drones-as-a-service provider Delta Drone International Limited ASX:DLT) (Delta Drone or the Company) today announced that it has entered into a conditional Share Purchase Agreement to acquire 60% of Arvista Pty Ltd (“Arvista”), and a Shareholders Agreement relating to Arvista which includes a Call Option to acquire the remaining 40% of Arvista in the future.

Arvista is a Perth-based provider of aerial and terrestrial surveying services for the mining, engineering and construction industries. Established in 2012, it was one of the first certified operators in Western Australia to provide commercial UAV surveying services to mining and other civil construction and earthworks projects.

As part of the due diligence process, the Company engaged independent specialists to undertake legal, financial and operational reviews of Arvista. Management also conducted an independent assessment of the business suitability and growth opportunities and concluded that the acquisition of a strategic stake in Arvista not only provides DLT with an immediate presence in Australia, but also with an experienced team of drone aerial survey operators which currently serves a contracted client base of mining and other engineering-related companies, to capture important survey data and other important information.