BEEM Signs LOI to Buy European Drone Maker in Pivot to Defense
Beam Global plans to acquire an unnamed European drone and AI software company and build a Pentagon conditionally approved drone system in the U.S.
Beam Global (BEEM) said it has signed a non-binding letter of intent to acquire a vertically integrated European drone technology company that develops, manufactures and sells drones along with proprietary, AI-enhanced drone software. If the deal closes, the San Diego company intends to build the drones in its existing U.S. and European factories and sell them, plus software services, to its current and new customers. The target was not named and no purchase price was disclosed.
