AEVEX to Acquire BlackSea Technologies in $650M Deal

Defense technology company AEVEX Corp. has signed a definitive agreement to acquire naval technology firm BlackSea Technologies for up to $650 million. The deal includes $250 million in cash, approximately $350 million in AEVEX Class A common stock, and up to $50 million in performance-based earnout payments. Slated to close in September, the acquisition will expand AEVEX's presence in unmanned surface and undersea vessels, integrating complementary air, surface, and maritime autonomous capabilities for customers including the U.S. Navy and U.S. Special Operations Command.

// Background

AEVEX Corp. is a Solana Beach, California-based defense contractor specializing in autonomous systems, AI mission software, ISR, and electronic warfare solutions, including its Mako unmanned surface vessel. Baltimore-based BlackSea Technologies produces autonomous maritime vessels, including the Global Autonomous Reconnaissance Craft (GARC), which is tested and operated at Naval Base Coronado by U.S. Navy Unmanned Surface Vessel Squadron 3.

// Key Developments

• AEVEX is acquiring Baltimore-based BlackSea Technologies for up to $650 million.
• Financial structure comprises $250 million cash, ~$350 million in stock, and $50 million in performance earnouts.
• The acquisition strengthens AEVEX's multi-domain autonomous systems, ISR, and electronic warfare capabilities.
• BlackSea builds the 16-foot Global Autonomous Reconnaissance Craft (GARC) used by the U.S. Navy's Unmanned Surface Vessel Squadron 3.
• The transaction is scheduled to close in September.