Security

What’s Behind the Acquisition of Dedrone by Axon?

This Research Note examines what’s behind the Axon acquisition of Dedrone, a US counter-drone startup. We review the transaction details, explore the previous investment and partnership leading up to the takeover, and highlight Axon’s strategic rationale to invest in robotic security technology. Axon Business Profile Axon Enterprise Inc, formerly TASER International is a US-listed public safety leader, best known for Body-Worn Cameras (BWC). Dominating over 50% of the U.S. market share, Axon specializes in integrating Tasers and digital evidence management software into its BWC offerings. Axon delivered annual revenue of $1.56 billion and net income of $174 million in 2023. This represents 31% annual revenue growth and is the fifth consecutive year of 25% or greater revenue growth. Dedrone Transaction Details On 6th May 2024, Axon announced it had entered into a definitive agreement to acquire Dedrone, a global startup in airspace security, headquartered in the Washington, D.C. metropolitan area. Axon’s mission to Protect Life […]

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This Research Note examines what’s behind the Axon acquisition of Dedrone, a US counter-drone startup. We review the transaction details, explore the previous investment and partnership leading up to the takeover, and highlight Axon’s strategic rationale to invest in robotic security technology.

Axon Business Profile

Axon Enterprise Inc, formerly TASER International is a US-listed public safety leader, best known for Body-Worn Cameras (BWC). Dominating over 50% of the U.S. market share, Axon specializes in integrating Tasers and digital evidence management software into its BWC offerings.

Axon delivered annual revenue of $1.56 billion and net income of $174 million in 2023. This represents 31% annual revenue growth and is the fifth consecutive year of 25% or greater revenue growth.

Dedrone Transaction Details

On 6th May 2024, Axon announced it had entered into a definitive agreement to acquire Dedrone, a global startup in airspace security, headquartered in the Washington, D.C. metropolitan area.

Axon’s mission to Protect Life finds an ally in Dedrone, whose technologies provide value to public safety and national security entities by protecting against increasing drone threats and advancing the use of Drones as First Responders (DFR).

Dedrone Chief Executive Officer Aaditya Devarakonda said: “Dedrone’s growing impact across industries such as federal governments, utilities and critical infrastructure, event venues, airports, correctional facilities and other enterprises, coupled with Axon’s powerful ecosystem of connected devices and software, will put us at the forefront of ensuring not only the safety of our communities but also the security of nations around the world.”

The transaction is subject to customary closing conditions and is expected to close in the second half of 2024. The terms of the transaction were not disclosed.

Axon Partnership & Strategic Investment

Axon initially made a strategic investment in Dedrone, when it led the startup’s Series C-1 $60.5 million funding round in July 2022. A partnership with Axon Air followed in October 2023 when Dedrone announced DedroneBeyond, its solution to enable drone operations to fly beyond visual line of sight (BVLOS) for state, local, territorial, and tribal (SLTT) law enforcement and emergency services when deploying drones as first responders (DFR).

Dedrone Acquisition by Axon

Dedrone Development

Founded in 2014, Dedrone has grown from a small startup to an industry leader with 150+ employees, expanding its reach to over 35 countries and attracting high-profile customers from the military, government, and private sectors. In April 2024, the US Department of Homeland Security named Dedrone as the only counter-drone company acknowledged under the SAFETY Act.

By leveraging AI/ML, Dedrone is claimed to be the only solution that provides continuous, autonomous interrogation and verification of drones that enables both multi-sensor and multi-mitigation options onto a single “pane-of-glass.” Whether on-premise/air-gapped or in the cloud, Dedrone customers can easily detect, track, identify, analyze, and mitigate drone threats.

Axon Strategic Rationale

Dedrone is the second UAV acquisition in the last 12 months. In July 2023, Axon acquired Sky-Hero, a Brussels-based innovator in tactical UAVs and UGVs, primarily focused on indoor use cases. Sky-Hero’s products will integrate over time into the Axon Air powered by DroneSense software platform, becoming Axon’s first suite of tactical uncrewed vehicles.

Dedrone augments Axon’s strategic objective to further expand their total addressable market and invest in robotic security technology which extends visibility and communications and increases situational awareness to save lives.

This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.

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