Unusual Machines to Acquire Rotor Lab for $7M to Boost Drone Motor Production, US Manufacturing

Unusual Machines Inc. (NYSE:UMAC) is one of the best new tech stocks with huge upside potential. Recently, Unusual Machines signed a definitive agreement, which was effective June 12, to acquire Rotor Lab, which is an Australian developer and manufacturer of electric motors and propulsion systems for unmanned aerial systems/UAS.

The proposed acquisition is valued at $7 million, structured primarily as an all-stock deal, and includes a $3 million earnout component. Rotor Lab is recognized for providing high-performance motors for both commercial and defense drone applications. Unusual Machines and Rotor Lab have already been collaborating for nearly a year, co-developing a family of motors including the 2207, 2807, and 3220 sizes.

These motors are slated to be among the first to enter production at Unusual Machines’ new US-based motor factory in Orlando, Florida, which is expected to begin operations in September this year.  Following the acquisition, Rotor Lab’s existing facility in Canberra, Australia, will remain operational.

Unusual Machines Inc. (NYSE:UMAC) engages in the commercial drone industry

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Disclosure: None. This article is originally published at Insider Monkey.