LIVINGSTON, United Kingdom - Cyberhawk, a Scotland-based provider of UAS inspection and asset visualisation software for energy infrastructure, has been acquired by funds advised by Magnesium Capital LLP.
According to Cyberhawk, the company has flown more than 30,000 commercial missions in more than 30 countries around the world.
Recently, Cyberhawk has developed cloud-based, AI-enabled visual asset management software known as iHawk, which uses high resolution imagery to digitise industrial infrastructure assets.
Cyberhawk currently employs 60 people, including UAV pilots, inspection engineers, surveyors and software developers, and is headquartered near Edinburgh, UK.
Equity finance was provided by funds managed by BMO Global Asset Management and advised by Magnesium; debt finance by Clydesdale Bank’s Growth Finance Team, the existing lenders to the company. The terms of the transaction were not disclosed.
"We are extremely proud to have established a globally renowned reputation and to be relied upon by many of the world’s largest energy companies," said Cyberhawk CEO Chris Fleming.
Magnesium’s managing partner Ian Jones, who joins the board of Cyberhawk, said: “Chris and his team have positioned Cyberhawk at the forefront of innovations in the UAV inspection market, revolutionising the way clients can visualise and manage critical asset information in order to improve planning and decision-making. We look forward to working with the business through its next phase of growth as it further develops its technology and software solutions.”
Ready to make a purchase? Search the Intelligent Aerospace Buyer's Guide for companies, new products, press releases, and videos
