NEW DELHI: Continuing with its acquisition spree, Adani Enterprises, through its wholly-owned subsidiary Adani Systems, on Friday signed a definitive agreement to acquire a 50% stake in Bengaluru-based commercial drone maker General Aeronautics for cash consideration.
Adani Enterprises in a regulatory filing said it would be leveraging its military drone and artificial intelligence (AI) and machine learning (ML) capabilities and work with General Aeronautics to provide solutions for the domestic agricultural sector.
This acquisition comes weeks after Adani’s joint venture with Israeli firm Elbit Systems was named in the first provisional list of the Indian government’s ambitious production-linked incentive (PLI) scheme for drones and drone components.
In recent times, Asia’s richest man Gautam Adani has been on an acquisition spree to enter into new businesses. Just last week, the airport-to-coal conglomerate forayed into healthcare by incorporating Adani Health Ventures (AHVL).
The Group is also making an entry into the cement manufacturing space after it signed an agreement for buying Switzerland-based Holcim’s entire stake in two Indian cement firms — Ambuja and ACC. At $10.5 billion, this would be the largest acquisition made by Adani. Adani is also expanding its reach in the news media business. It has already announced acquiring 49% stake in Quintillion Business Media.