Civitanavi Systems to own 30% of Canadian PV Labs with the option to purchase the remaining 70%

January 31, 2023

Abstract : The acquisition of the minority stake is worth 2.5 million dollars. The market segments in which PV Labs operates are security and surveillance, public safety, geospatial, and entertainment

MILAN, Jan 30 (Class Editori) — Civitanavi Systems’ technology expertise is expanding. Earlier this week, the Group listed on Euronext Milan and operating in the field of inertial navigation and stabilization systems announced the signing of a binding agreement to acquire a 30% minority stake in PV Labs for 2.5 million dollars.

PV Labs’ identity and its core business

PV Labs is a Canadian SME founded by Mark Chamberlain, former Founder and CEO of WESCAM. The advanced imaging solutions company specializes in the design and development of turnkey airborne imaging systems based on core technology platforms. The Group operates in the following market segments: security and surveillance, public safety, geospatial, and entertainment.

PV Labs has designed a unique line of Airborne ISR&T products based on a new stabilizing technique patented by PV Labs for gimbals that is called Fifth-Generation Advanced Stabilization Technology (FAST).

The key components of PV Labs FAST technology are the inertial sensors, which will now be supplied by Civitanavi Systems to provide a family of scalable ISR&T product with the highest performance, smallest size, lowest weight and cost in their class. Civitanavi Systems’ investment significantly reduces the time to market of the product range. In the future, the technological synergy between the two companies will lead to even tighter integration of the inertial sensors with next-generation camera payloads to provide the most advanced stabilized imaging and navigation capabilities even in environments without GNSS.

The agreement includes a call option to purchase the remaining 70%

The signed agreement includes a call option to purchase the remaining 70% within 5 years. The two companies will already begin to cooperate and strengthen their technological and product development know-how. “The synergies between the two companies will allow us as of now to develop the most advanced imaging system on the planet for a given size,” Civitanavi Systems’ CEO Andrea Pizzarulli said, reiterating how the company will enable itself to greater performance with this new acquisition.

(Source:Class Editori)

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