Mobilicom shares jumped over 9% in early trade today after the company announced a strategic partnership with Yuneec International, a leading drone manufacturer. At the time of writing, 6 March 2019 (12:39 PM AEST), MOB is trading at $0.084, up 9.091%.
In the announcement to Australian Securities Exchange, Mobilicom Limited (ASX: MOB) announced that it has inked a partnership agreement with Yuneec International to release joint drone solutions that will incorporate the SkyHopper by Mobilicom product suite. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]
The partnership will see Yuneec launching two drone platforms for the commercial and government markets on the basis of Mobilicom’s SkyHopper, an end-to-end equipment and solution provider.
Mobilicom’s CEO Oren Elkayam stated, “As an original equipment manufacturer (OEM) for Yuneec’s commercial and government drone solution, Mobilicom’s sales will be strengthened by leveraging the magnitude of Yuneec as a company as well as its worldwide sales channels.”
The sale of the platforms is expected to commence during 2019 through Yuneec’s extensive sales network present globally. For commercial purposes, Yuneec’s SkyHopper-based commercial and government drone solution offerings are likely to begin from the second quarter of 2019.
This underscores a great opportunity for Mobilicom to showcase its flagship SkyHopper product suite to the key markets and customers and that too alongside a growing giant in the drone industry, Yuneec.
Partly owned by Intel, Yuneec International is the second largest manufacturer of electronic aviation and drones for Yuneec’s consumer and commercial target markets. Intel has invested heavily in Yuneec’s business which sells more than one million units per annum and operates across five sites worldwide since being founded in 1999.
Mr Elkayam commented “To have the opportunity to work alongside Yuneec is an indication of the high-quality products and technology Mobilicom is delivering.”
On the financial front, the sale of SkyHopper-built drone platforms will allow Mobilicom to boost its revenue, enjoying economies of scale driven by the extensive sales channels of Yuneec and its presence worldwide.
Leading Yuneec’s global sales and marketing operations, VP Global Sales Joe Schamuhn commented: “Partnering with Mobilicom and leveraging its best-in-class SkyHopper technology will enable Yuneec to target the commercial and government markets more effectively. It believes the collaboration will result in a long-term relationship which offers significant opportunity for value creation.”
The SkyHopper product portfolio enables a full end-to-end solution including data-link communication, video processing and analytics, controllers, viewing terminals and software solutions. In 2018, SkyHopper completed its one year, outperforming its first-year goals with more than 50 purchases or integrations secured by drone manufacturers that are now planning their drone systems around SkyHopper products for future commercial release.
SkyHopper customers majorly include e global aerospace giant, Airbus; market-leader in RC controllers, Futaba and more. It achieved 97 engagements with respect to its customer engagement plan, surpassing the company’s aim of 20.
Over the past 12 months, MOB stock price has fallen by 3.75% including a negative price change of 22.22% in the past three months.
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