US disruptive technology investor AIRO Group announced this week that it has signed an agreement to buy GA avionics company Aspen Avionics.
The two companies are expected to finalise the deal by the end of the year, but both companies are saying that Aspen will continue to operate normally with little or no disruption to customers.
According to Aspen CEO John Uczekaj, joining the AIRO group will enable Aspen to realise future growth plans.
“As a recognized innovator in the general aviation segment, Aspen’s inclusion in the AIRO Group’s diversified company portfolio not only helps strengthen Aspen Avionics current business lines but opens up opportunities in other aerospace markets that will enable future growth and innovation,” he said
“This is a very exciting development for our current and future customers as well as our employees and allows us to take our business to a higher level. We are glad to be a part of the comprehensive and diversified group of aerospace technology companies AIRO is building that span a wide range of rapidly growing aerospace markets."
Aspen Avionics manufactures and markets the Evolution series of multi function and primary flight displays including the Evolution Max 2500 system, putting it up against heavy-weight companies such as Honeywell and Garmin.
As part of the AIRO Group, Aspen will have the opportunity to develop new technologies in not only GA avionics, but also avionics solutions for manned and unmanned aircraft for commercial, military operations.
Additionally, AIRO will leverage Aspen capbilities in providing electronics engineering, product development, supply chain, customer support and marketing disciplines to support other AIRO Group companies.