Acorn Growth Companies Acquires Black Sage Technologies

OKLAHOMA CITY--(BUSINESS WIRE)--Jul 11, 2019--

Acorn Growth Companies, a private equity firm investing exclusively in aerospace, defense and intelligence, announced today the acquisition of Black Sage Technologies (Black Sage), the market leader in the development, integration and deployment of counter-unmanned aircraft systems (C-UAS) solutions, headquartered in Boise, Idaho.

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As a leading developer of C-UAS solutions, Black Sage identifies, classifies, tracks and defeats UAS threats for military, government, law enforcement, and civil applications. Black Sage employs a hardware-agnostic approach to integrating best-of-breed sensors with its proprietary artificial intelligence-enabled target tracking and defense automation systems to provide adaptable, end-to-end C-UAS systems.

“The acquisition of Black Sage strengthens our already robust defense portfolio of businesses focused on protecting the interests of the United States and its allies,” said Rick Nagel, managing partner of Acorn Growth Companies. “Black Sage is truly ahead of its competition in this highly fragmented space, already delivering integrated identification and defeat services across the globe. We see significant growth potential for this market segment.”

Black Sage’s UASX-branded C-UAS systems have been successfully deployed in support of fixed-site security, critical infrastructure protection, and commercial event airspace monitoring. Black Sage’s customers include U.S. Government Agencies, the Department of Defense, U.S. Aerospace & Defense prime contractors and allied military and government customers in Europe, Middle East, and Asia.

“The depth and expertise of the Acorn Growth Companies team is impressive,” said Dave Romero, co-founder of Black Sage Technologies. “Acorn’s network and reputation combined with Black Sage’s technology and performance history is a powerful combination for delivering safety and security to a broader market.”

“As a technologist, having the additional financial resources and expertise of Acorn will be a force multiplier for Black Sage to further enable the rapid development of counter-UAS technologies that keep our world safer,” said Ross Lamm, Ph.D., co-founder of Black Sage Technologies.

Terms of the transaction were not disclosed.

About Black Sage

Black Sage is a fast-moving defense technology integrator specialized in autonomous airspace protection solutions to take down small remote piloted aircraft systems. With an ensemble of sensors, effectors and machine intelligence tools, Black Sage answers some of the most challenging counter-UAS mission requirements in critical infrastructure, internal security, and civil defense. Black Sage is dedicated to maintaining safety and security.

Acorn Growth Companies is a middle market private equity firm focused exclusively on Aerospace, Defense and Intelligence. Acorn invests solely in operating companies that strive to enhance global mobility and protect national interests. Acorn has a formidable reputation in the industry and is recognized for its deep understanding of the Aerospace & Defense markets, with proprietary access to the best companies within these sectors. With operational expertise and its ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders. AcornGrowthCompanies.com

CONTACT: Media Contact:

Kath Searle, Acorn

682.888.4466Investor Contact:

Brandon Bradford, Acorn

917.224.8399

KEYWORD: UNITED STATES NORTH AMERICA IDAHO OKLAHOMA

INDUSTRY KEYWORD: OTHER DEFENSE FINANCE CONSULTING AEROSPACE PROFESSIONAL SERVICES MANUFACTURING DEFENSE

SOURCE: Acorn Growth Companies

Copyright Business Wire 2019.

PUB: 07/11/2019 12:52 PM/DISC: 07/11/2019 12:52 PM

Copyright Business Wire 2019.