American Infrastructure Group, Inc. (“AIGI”) is pleased to announce the company has executed a Stock Purchase Agreement to purchase all of the stock of 1UP Aerial Drone Services, Inc., (“1UP”) owned by Chuck Adams and Kimberly Smith-Adams. This is the second acquisition of an industrial drone business that is helping AIGI develop its national industrial drone operating network in order to dominate the market share of this expanding sector. The company expects the agreement to close this year.
The agreement calls for the 100% acquisition of 1UP, in exchange for a cash investment and preferred stock in AIGI with an earn-in structure to share in growth. During the closing period, both sides must finalize due diligence, inclusive of a satisfactory financial audit, a mutually agreeable business plan and subsidiary capitalization in order to meet the closing terms and consummate the transaction.
Chuck Adams said, “I see the intersection of what our clients can do with the commercial use cases that unmanned aircraft represent. Combine drones with high quality photography, videography, 3D modeling software, LiDAR, and other sensors and we jumped at the opportunity to integrate these services. We are driving cost effective, revenue generating, safe solutions that augment our client’s GIS surveying, digital photography/videography, drone-vertising, business inspection and data acquisition strategies. By joining the AIGI platform we can expand our profitable divisions while accessing disruptive artificial intelligence to improve our client experience.”
About 1UP Aerial Drone Services, Inc.
Founded in 2016, 1UP operates from Golden, Colorado and performs a variety of drone services to commercial and government clients as well as sells drone hardware/software and provides training to new and veteran pilots. Layering 3D Models of geospatial information over large commercial land developments to create subdivisions from raw land, or reconstructing accident scenes for forensic science evidence gathering using drone flyovers with layered animations are examples of the “industrial strength” applications of the technology and services provided by 1UP.
About Chuck Adams
Chuck Adams is the CEO of the 1UP. He is frequently known as the “Land Liberator and 3D Aerial Memory Maker”, and is a FAA Part 107 Certified Pilot. He is a tenured IT Cloud industry veteran who spent 23 years in the high-tech industry and is a well-respected executive speaker on emerging technology, cloud, IoT, and business development. He holds a Bachelor’s degree in Business Administration from the University of Kansas.
Integration with Family of Companies
AIGI’s wholly owned subsidiary InfraSix LLC (“Infrasix”), has a proprietary application for IoS and Android called InfraDrone. This disruptive infrastructure technology is designed with a focus on using drones, satellites and other data capture, to utilize our artificial intelligence, machine learning and predictive analytics for civil engineering and government entities. These organizations use our analytics for development, inspection, preventative maintenance, emergency response and disaster management for critical infrastructure. This technology will also provide Commercial Drone Operators and Professional Drone Pilots a Cross-Platform Application and premium tools to support the development of their markets. Together with AIGI’s second acquisition, a minority interest in veteran owned Patriot Drone Operators, LLC, AIGI is poised for significant growth in our industrial drone operating network.
About American Infrastructure Group, Inc.:
Headquartered in Houston, Texas, American Infrastructure Group, Inc. is a data technology and field services company focused on improving the country’s infrastructure. We work with companies and governments that own infrastructure to inspect, identify and solve their problems. Our data technology division collects data by using drones to inspect structures. We analyze the data using proprietary Artificial Intelligence and Machine Learning algorithms to identify problem areas, and develop solutions to correcting the problems. Our field services division will offer installation and rehabilitation services to infrastructure companies.
Corporate Website: http://AmericanInfrastructureGroup.com
Infrasix Website: http://InfraSix.com
Patriot Drone Operators, LLC Website: http://PatriotDroneOperators.com
1 Up Aerial Drone Services, Inc. Website: https://1UpDrones.com/