Destinus buys Swiss AI company Daedalean for $223m to boost autonomous systems in aviation

Destinus, a company working on unmanned aerial vehicles and high-speed aviation, announced an agreement to acquire Swiss developer of autonomous navigation solutions Daedalean. The deal will be valued at CHF 180 million (~$223 million) in cash and stock, and is expected to close by the end of 2025.

Gist of the deal

The takeover is aimed at strengthening Destinus' developments in artificial intelligence and autonomous flight control systems. Daedalean's solutions are based on machine learning and visual navigation technologies, enabling aircraft to navigate in space without the use of GPS and other external navigation signals.

Daedalean develops software and cameras that can recognise obstacles and build real-time terrain maps. The company was previously focused on the electric vertical flight vehicle market, but in recent years has focused on integrating its technology into more applied aviation projects, including a collaboration with Italy's Leonardo SpA.

Destinus expects Daedalean's technology to be used in both military and civilian projects. The companies have previously co-operated and the merger was a logical development of the partnership, according to management.

Source: Bloomberg