Defense company expands its position in autonomous maritime systems
Defense technology company AEVEX has agreed to acquire naval technology firm BlackSea Technologies in a transaction valued at up to $650 million. The deal is expected to close in September.
The acquisition is intended to strengthen AEVEX’s presence in the market for unmanned surface and undersea vessels. It is also designed to broaden the company’s access to the U.S. Navy, U.S. Special Operations Command and other allied customers.
Combined capabilities will span air, surface and undersea platforms
The transaction will bring together complementary technologies designed for air, surface and subsea systems.
“BlackSea brings exceptional and strategically aligned maritime capability. Just as importantly, it brings a culture of mission focus and ingenuity that reflects the very roots of AEVEX,” said Brian Raduenz, the company’s founder and executive chairman.
BlackSea system is already being tested by the U.S. Navy
BlackSea Technologies develops the Global Autonomous Reconnaissance Craft, or GARC, a small autonomous vessel measuring approximately 16 feet in length.
The U.S. Navy is experimenting with the system at Naval Base Coronado. GARC is operated by Unmanned Surface Vessel Squadron 3, a unit established in 2024 to operate and evaluate unmanned maritime platforms.
The vessel is part of broader U.S. efforts to develop autonomous fleets capable of conducting reconnaissance, surveillance and other missions in demanding maritime environments.
AEVEX brings the Mako vessel into the combined portfolio
AEVEX, headquartered in Solana Beach, California, develops a range of autonomous systems of its own. Its portfolio includes Mako, an unmanned surface vessel designed for intelligence, surveillance and reconnaissance missions, as well as kinetic operations.
The acquisition will combine the companies’ maritime technology portfolios and could accelerate the development of autonomous systems for contested environments and missions where traditional crewed platforms face increased risks.
Deal structured around cash, stock and performance payments
Under the terms of the agreement, BlackSea’s owners will receive $250 million in cash and approximately $350 million in AEVEX Class A common stock.
The deal also includes the possibility of an additional $50 million in performance-based earnout payments, depending on the achievement of specified objectives.
BlackSea expects greater scale without changing its core mission
BlackSea Chief Executive Officer Bob Pudney described the acquisition as a natural next step for the company. He said BlackSea had spent years developing and deploying autonomous maritime systems in real-world operating environments.
The company’s experience includes hybrid fleet operations and logistics missions conducted in contested conditions. According to Pudney, AEVEX’s manufacturing capacity, industrial infrastructure and broader autonomy ecosystem will provide the scale needed to accelerate the delivery of BlackSea’s existing technologies.
“Our mission stays the same; our ability to deliver it grows,” Pudney said.
