Valmie Resources Inc (OTCBB:VMRI) disclosed it has shortlisted companies that fulfill its criteria of potential acquisition firms. The company is in talks with these firms as it commences the evaluation process. It is looking for attractive acquisition opportunities with the objective for value-creating. They should make a strategic fit within its prime focus area of unmanned aerial vehicle technology.
Valmie recorded a successful show at the Unmanned Systems conference 2015 organized by the AUVSI. During the event, the company identified various emerging companies as the perfect target for its acquisitions. These potential firms have produced processes, technologies or innovations contributing to the aerial robotics industry.
The expert call
Gerald B. Hammack, the President and CEO said that Valmie Resources has decided to move beyond organic growth. It intends to achieve assertive expansion by seeking companies that will best complement company’s objective of capturing market share in the growing commercial drone sector. Through these acquisitions, the company will support the product portfolio and discover winners early, assisting the expert team to develop technologies.
Valmie recently bought Vertitek, Inc., which is a privately held tech company in the UAV segment. The two companies are working together on the advancement of V-1 Drone. It is a key project of Valmie which is being developed as part of an agricultural use for an international crop monitoring customer. Valmie is actively offering its services and leading edge products in the fast growing technology industry. It seeks concepts with innovative business models well-placed to make a noteworthy impact within the four prime mega-sectors of technology, semiconductors, networking, hardware and software. It brings operating talent, leadership and tools to emerging firms in these sectors.
In last trading session, the stock price of Valmie declined more than 24% to close the trading session at $0.692. The decline came at a share volume of 463,666 compared to average share volume of 130,752.