Mirabel, Quebec – October 29, 2026 -- Volatus Aerospace Inc. (TSX: FLT) has completed its acquisition of Lithuania-based AISPECO UAB, paying US$3.0 million in cash and issuing 17,434,193 common shares at a deemed price of C$0.5813 per share.
Consideration includes restricted share units and up to US$2.5 million in contingent payments
Volatus will also grant 1,859,804 restricted share units. The share and cash amounts reflect customary working capital adjustments. Additional contingent consideration of up to US$2.5 million is payable in cash or common shares, at Volatus' option, if financial, commercial and product-development milestones are met over three years.
AISPECO brings sensor pods, gimbal, electronics and flight-management software
The portfolio comprises HELIUX modular sensor pods, the FOCUS AI-guided gimbal, CORE electronics and ROBINCOP flight-management software. AISPECO already sells commercially for utility inspection, forestry, surveying, mapping and infrastructure monitoring. Its sales also include systems intended for defence-related and border-surveillance uses.
Volatus CEO Glen Lynch said the deal moves the company toward a "complete, end-to-end aerial intelligence ecosystem" by pairing AISPECO's sensors and software with Volatus aircraft platforms and operations.
Lithuanian engineering base adds European manufacturing capacity
The transaction adds an engineering and manufacturing base in Lithuania, a NATO and European Union member. It complements Volatus' Canadian manufacturing operations. Volatus says the footprint supports growth in European and allied markets, alongside technology integration and development work in Canada.
Volatus plans to use the acquired technology to expand technology sales and higher-value aerial intelligence services. It is also targeting broader opportunities with government and allied customers.