Athlone invests in BlueBird Aero Systems

Athlone will acquire 30 percent of BlueBird as part of its investment.

By MATTHEW KRIEGER
December 12, 2007 08:28

 
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Rehovot-based Athlone Global Securities, a private equity group that invests in Israeli homeland security companies, announced on Tuesday that it will invest $7m. in BlueBird Aero Systems Ltd., a company that specializes in design, development and production of Unmanned Aerial Vehicles (UAVs). Athlone will acquire 30 percent of BlueBird as part of its investment. BlueBird, based in Kadima, is one of the world's leading developers of a Soft Wing Tactical UAV, a machine that enjoys high survivability and reliability due to its advanced avionics, systems redundancy and unique parafoil-based wing, which enables a soft and safe landing on any terrain.

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