Falcon Eye Drones Services (FEDS) Group Holdings, Middle East’s leading and one of the world’s top Drone-as-a-Service (DaaS) company, has received a major strategic investment from Aerodyne Group, a world-leading provider of drone-based asset management solutions.
Aerodyne Group’s investment in the Middle East’s largest drone solutions company marks the first of its kind deal in the region.
Proud to be UAE home-grown, FEDS was established in 2014, and in a short period has become the only company from the Middle East to be named as one of the top drone service providers in the world, said a statement.
FEDS has conducted thousands of commercial operations for some of the biggest companies in the Middle East, while Aerodyne itself is already a global leader with more than 300,000 infrastructure assets inspected and managed across 25 countries. Both companies are ranked among the top 20 drone service providers by Drone Industry Insights, a leading source for independent drone market intelligence.
The investment of Aerodyne, the world’s leading drone service provider, in FEDS is part of the group’s aggressive two-year global plan which will potentially see the completion of seven M&As within the period. In December 2019, Aerodyne announced a similar strategic alliance with Measure UAS in America. Discussions between Aerodyne and FEDS started in the second half of 2019.
The strategic investment will allow FEDS to further strengthen its position in the Middle East with DT^3 (Drone Technology, Data Technology, and Digital Transformation) technology from Aerodyne, it said.
This investment, on the other hand, would allow Aerodyne Group to leverage FEDS' strong growth trajectory and financial performance to further enhance value for its shareholders. FEDS will also contribute significantly to Aerodyne’s global vision in geospatial and GRID management solutions.
Aerodyne founder and Group CEO Kamarul A Muhamed said: “We are proud to welcome FEDS into the Aerodyne family. FEDS provides Aerodyne a strong foothold to accelerate our expansion into the Middle East. By combining our expertise and FEDS local content, we have created a platform that is primed to be the market leader in the region and will supercharge our next phase of growth.”
FEDS founder and CEO Rabih Bou Rashid said: “I am very excited with this strategic alliance and have no doubt that it will add significant value to FEDS, our clients and Aerodyne Group. This partnership will solidify us now, at the group level, as an undisputed global number one Drone powered solutions providers. FEDS was already at the forefront of the technology and we were providing the best in class services, but Aerodyne will even take us a step further, an amazing change for us and a great news for the local market. We look forward to continuously create value and expand the frontier in the drone services space together with Aerodyne.”
Rabih Bou Rashid also joins the Aerodyne Group’s global leadership team, bringing with him eight years of invaluable experience and expertise in drone services sectors across multiple verticals.
FEDS will continue to provide premium turnkey aerial inspections of infrastructure assets in the energy utilities, geospatial survey, public infrastructure, and telecommunications sectors. Leveraging on Aerodyne’s DT^3 technology will enable FEDS to offer deeper disruptive solutions to the Middle Eastern market. By combining smart drones and AI, advanced analytics and solution approach to enterprise digitalisation, these solutions will give FEDS’ clients significant performance improvement and cost optimisation, the statement said. - TradeArabia News Service