AeroVironment Relocates Corporate Headquarters to Arlington, Virginia

Rhea-AI Summary

AeroVironment, Inc. (NASDAQ: AVAV) announced the relocation of its corporate headquarters from Simi Valley, California, to Arlington, Virginia, effective June 15, 2021. The move aims to enhance access to key customers and decision-makers in the Washington D.C. area. CEO Wahid Nawabi highlighted the acquisition of Progeny Systems ISG and the establishment of an AI Innovation Center as integral to this strategy. Despite the move, AeroVironment will retain operations in Simi Valley and other locations in the U.S. and Germany, continuing to provide robotic technology solutions to defense and commercial sectors.

Positive

• Relocation to Arlington, Virginia, enhances access to government clients and decision-makers.
• Acquisition of Progeny Systems ISG expands capabilities and market reach.
• Establishment of an Artificial Intelligence Innovation Center to boost technological development.

Negative

• None.

AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today announced the relocation of its corporate headquarters from Simi Valley, Calif. to Arlington, Va., effective June 15, 2021.

“The greater Washington D.C. area is where many of our key customers are located, and expanding our presence in the region will further our access to decision makers, influencers and talent,” said Wahid Nawabi, AeroVironment president and chief executive officer. “Our recent acquisition of Progeny Systems ISG and our new Artificial Intelligence Innovation Center expand our footprint near the Beltway and build on our momentum as we continue to grow our portfolio and global scope. We look forward to growing our Washington, D.C. presence and continuing to serve our customers with solutions that help them Proceed with Certainty.”

AeroVironment will maintain its presence and existing operations in Simi Valley, Calif. and other existing sites across the United States and in Germany.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Celebrating 50 years of innovation, AeroVironment is a global leader in intelligent, multi-domain robotic systems and serves defense, government and commercial customers. For more information, visit www.avinc.com.

SAFE HARBOR STATEMENT

Certain statements in this press release may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005483/en/

FAQ

When did AeroVironment relocate its headquarters?

AeroVironment relocated its headquarters on June 15, 2021.

Why did AeroVironment move its headquarters to Arlington, Virginia?

The relocation aims to enhance access to key customers and decision-makers in the Washington D.C. area.

What is the stock symbol for AeroVironment?

AeroVironment's stock symbol is AVAV.

Is AeroVironment maintaining operations in California after the move?

Yes, AeroVironment will maintain its presence and existing operations in Simi Valley, California, and other U.S. locations.

What new initiatives is AeroVironment implementing with the relocation?

AeroVironment is expanding its footprint with the acquisition of Progeny Systems ISG and establishing an Artificial Intelligence Innovation Center.