Volatus Aerospace, the Canadian aerospace and defence company listed on the Toronto Stock Exchange, announced on October 14, 2026 that it had agreed to buy all the shares of AISPECO UAB, a company in Vilnius, Lithuania, that develops and builds modular airborne sensor systems and software for managing aerial missions.
Volatus will pay a base price of $10.5 million: $3 million in cash and $7.5 million in Volatus common shares, subject to adjustments in the purchase agreement. About 70% of the base price is therefore paid in stock, valued at the 20-day volume-weighted average price on the Toronto exchange as of October 13, 2026.
A further payment of up to $2.5 million, in cash or shares at Volatus's choice, depends on AISPECO reaching financial, commercial and product development milestones over the three years after closing. The deal still needs customary conditions to be met, including conditional approval from the Toronto Stock Exchange.
What AISPECO built
AISPECO develops payload systems for aerial surveys and flight-management technology. Its HELIUX platform and ROBINCOP software let operators combine several types of sensors on different aircraft.
Customers use the systems for LiDAR mapping, inspecting utility networks, monitoring pipelines and collecting other aerial data, including for forestry, urban mapping and transport infrastructure.
Mantas Vaskela, AISPECO's co-founder and chief executive, said joining Volatus would give the company the scale and market access to speed up adoption of its technology, and that the two businesses could offer more integrated aerial intelligence services to customers in defence, energy and critical infrastructure.
According to Dealroom's summary of the deal, AISPECO reported revenue of about $4.19 million in fiscal 2025, more than double the year before.
Volatus said AISPECO's technology is already deployed commercially, and Vaskela described the systems as flexible enough to serve customers in several industries, from energy to critical infrastructure.
“AISPECO a développé des technologies déployées commercialement ainsi qu’une expertise d’ingénierie qui prendraient des années à reproduire”
Why Volatus is buying
Volatus, whose release was datelined Mirabel, Quebec, describes itself as a Canadian-controlled aerospace and defence company focused on integrated uncrewed systems, aerial intelligence and operational services. It sells drone systems, aerial intelligence services, autonomy software and training to civil infrastructure, public safety and defence customers, and wants to become a vertically integrated company that owns the sensors, control electronics and mission software used on aircraft as well as the flight operations.
Chief executive Glen Lynch said AISPECO had built commercially deployed technology and engineering expertise that would take years to copy, and that combining it with Volatus's flight operations would open new growth in commercial, infrastructure and defence markets.
The deal also gives Volatus an engineering and manufacturing base in Vilnius. The company pointed out that Lithuania is a member of both NATO and the European Union, which it sees as a strategic base for selling into allied markets alongside its Canadian factories.
Volatus said bringing AISPECO's proven sensor systems and mission software together with its own flight operations would create new opportunities in value-added services, technology sales and defence applications. Dealroom's summary put management's estimate of extra revenue from the combination at between $5.13 million and $8.8 million.
What Volatus expects
Volatus's assumptions for the deal include keeping AISPECO's founders and key staff, converting AISPECO's existing pipeline of opportunities at its historical rate and an exchange rate of 1.60 Canadian dollars to the euro. It noted that AISPECO's financial statements were prepared under Lithuanian accounting standards and still need to be adjusted to international rules.
Dealroom reported that Volatus expects about $7.33 million of revenue from AISPECO in fiscal 2027 at an adjusted EBITDA margin of 8% to 12%, and estimates between $1.03 million and $1.91 million a year in cost and direct savings by the second year.
Volatus published an investor presentation on the deal and held a webinar for shareholders on October 15. AISPECO's founding date and any outside funding were not disclosed.
