Delta Drone in talks to acquire South African drone operator Rocketmine

June 7 (SeeNews) – French civil drone maker Delta Drone (EPA:ALDR) said on Monday it had entered exclusive talks to buy the entire capital of South Africa’s drone operator Rocketmine, part of Johannesburg-based technology group Public Display Technologies Pty Ltd (PDT).

The parties expect to close a potential transaction by the end of July.

Without disclosing financial details, the buyer said in a statement it would pay in equity. PDT will take 500,000 Delta Drone shares that would have been repurchased in advance by the French company under its share buyback programme.

Rocketmine, which has 10 employees and was set up as an independent company at the beginning of 2016, is expected to close the year with about EUR 600,000 (USD 681,400) in revenue and a positive financial result.

(EUR 1 = USD 1.136)

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