Piramal Concludes Partial Acquisition of BlueBird Shares

The Indian company acquires 28% of the shares of Israeli UAV manufacturer BlueBird.The Indian pharmaceutical company Piramal has concluded the acquisition of 28% of the shares of BlueBird, an Israeli manufacturer of UAVs. 

The deal, initially revealed by IsraelDefense, was concluded in the past few days. After the round of talks held by the Indian company’s representatives in Israel, a decision was made to acquire part of the shares of the Israeli company. It was learned yesterday that the deal was completed, with the acquisition of 28% of the shares.

As reported by IsraelDefense, Piramal has a plan for establishing a defense subsidiary, which may lead to additional potential investments in Israeli companies. India is planning several large-scale tenders for acquiring micro and mini-UAVs at a scope of $1.25 billion.

BlueBird has already concluded a cooperation agreement with the Indian company Dynamatic. The UAV manufacturer Innocon also intends to compete for the large-scale tenders in India, and towards that objective has developed a new UAV named “Spider,” which weighs 2.5 kilograms and has an endurance of approximately 30 minutes.