RIGA - Latvian unmanned aircraft maker AirDog has been acquired by U.S. smart home solutions developer Alarm.com, representatives of AirDog informed LETA.
With the purchase of the Latvian drone company, Alarm.com, which is listed on the Nasdaq stock exchange, plans to promote robotics research and development for its smart home and business technologies and to promote the company's international expansion, including in the Baltics.
The price of the deal has not been disclosed.
"In our changeable and fast progressing IT age, robotics is an industry requiring a comprehensive approach to problem solving. Uniting forces with Alarm.com is an opportunity to expand our team of engineers and make full use of its potential," said AirDog co-founder and CEO Agris Kipurs.
As reported, after a successful first crowdfunding campaign on Kickstarter platform, in 2015 the high-performance, auto-follow camera drone AirDog was named the winner of best robot/drone title and placed second in Best of CES 2015 Awards overall poll at the world's largest technology and innovations fair CES 2015.
This allowed the company to win recognition and attract investments worth USD 2 million (EUR 1.8 million) from such companies as IT-Farm Corporation, Base Ventures, FlyCap, Imprimatur Capital.