Wahid Nawabi, chief executive of the drone and robotics manufacturer, said that with the greater Washington, D.C. area being where so many of the company’s key customers are located, it made sense to move there.
“Expanding our presence in the region will further our access to decision makers, influencers and talent,” Nawabi said in a statement. “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.”
AeroVironment Inc. announced in February the acquisition of the intelligent systems group of Progeny Systems Corp. for $30 million. It also said it would operate the group’s Virginia facility as the new Artificial Intelligence Innovation Center for AeroVironment.
The company will maintain its Simi Valley drone development and manufacturing facilities, as well as other U.S. and international locations.
Shares of AeroVironment (AVAV) closed up $1.01, or nearly 1 percent, to $114.24 on the Nasdaq, on a day when that market closed down a fraction of a percent.