AeroVironment stockholders approve $4B acquisition of BlueHalo

AeroVironment, an Arlington County-based defense contractor, announced Tuesday that its stockholders have approved the $4.1 billion purchase of Arlington aerospace and defense tech firm BlueHalo. The deal is expected to close in May.

In November 2024, the company announced it was purchasing BlueHalo for approximately $4.1 billion in an all-stock transaction. BlueHalo is owned by private equity firm Arlington Capital Partners and works in space technologies, counter-uncrewed aircraft systems, directed energy, electronic warfare, cyber, artificial intelligence and uncrewed underwater vehicles.

AeroVironment says the transaction is set to close in May, subject to the satisfaction of customary closing conditions. On Tuesday, AeroVironment stockholders voted to approve the issuance of its common stock for the acquisition.

“Stockholder approval marks an important milestone as we move forward with the acquisition of BlueHalo and accelerate our transformation into the leading next-generation defense technology company,” AeroVironment Chairman, President and CEO Wahid Nawabi said in a statement. “Together, AV and BlueHalo will drive agile innovation and deliver integrated, all-domain solutions designed to redefine the future of defense and address the most important priorities and needs of our nation and allies around the globe. We thank stockholders for their continued support and look forward to closing this transaction and unlocking new opportunities for growth and value creation.”

More than 99% of the shares voted by AeroVironment stockholders were in favor of the acquisition, the company said. Final voting results will be reported in a Form 8-K filed with the U.S. Securities and Exchange Commission.

AeroVironment previously said the combined company will be based at AeroVironment‘s corporate headquarters and that the acquisition will allow for administrative and operational cost savings. The combined company is expected to deliver more than $1.7 billion in revenue.

A previous news release from the company said BlueHalo’s 10 “flagship solution families” and more than 100 patents will integrate with AeroVironment’s expertise in the design, development, manufacturing, training and servicing of uncrewed systems, loitering munitions, which are also known as suicide drones, and advanced technologies.