Blimp-in-a-box contract causes acquisition
In order to fulfill that contract and to benefit from future collaborations of a similar nature, Lighter Than Air Systems agreed to be acquired in an almost all-stock transaction worth about $1 million by World Surveillance Group.
All three companies are Florida-based defense contractors.
Blimp-in-a-box is designed to provide real-time day/night high definition footage for ISR, IED detection, border security and other governmental and civilian uses. The systems is packaged in a crate, mounted to a trailer, and can be rapidly deployed within minutes by a two man crew.