Knysna, South Africa-based UAS (unmanned aircraft systems) designer and manufacturer, ALTI now has an equity partner in the form of Israeli-based worldwide operator Avnon Group.
A statement issued on behalf of ALTI has it that Avnon “concluded an agreement to acquire a substantial equity stake in ALTI Unmanned Aircraft Systems, an award-winning hybrid UAS developer and manufacturer specialising in vertical take-off and landing UAVs designed for the security and surveillance sector”.
ALTI’s new equity partner is Avnon Group company iSTAR which provides military level intelligence and surveillance information for use by civilian and military operators.
Garden Route based ALTI developed, manufactured and exported unmanned aircraft for nearly a decade with clients in 13 countries internationally. “The acquisition by Avnon Group will forge a strong long term partnership ultimately resulting in development of more advanced aircraft systems,” the statement said.
“The acquisition is part of Avnon Group strategy to strengthen its position in the drone market and will allow the group to improve competitiveness of solutions and being able of offer a comprehensive solution combining UAVs with other offerings for homeland security (HLS) missions.
“Operations in South Africa will continue and at the same time we will start producing UAVs in a new co-production centre for group subsidiaries in Israel,” Aviad Matza, chief executive of Avnon Group’s HLS division, said. “There is a growing demand for VTOL UAV’s from military and government forces and ALTI has advanced capabilities in this field.”
“We are excited about our new partners. Avnon brings experience and international reach and ALTI will continue to push the boundaries creating world leading unmanned systems” Duran De Villiers, ALTI shareholder and director, said.