Beam Global (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for energy storage and security, electrification of mobility, and smart city infrastructure, announces it has executed a Share Purchase Agreement (SPA) to acquire drone technology company ScoutDI. ScoutDI develops, manufactures, and sells drone systems and a suite of proprietary AI-enhanced software for the inspection of confined spaces and other hard-to-access industrial assets, serving customers in the maritime, oil and gas, energy and other industries. Upon completion of the acquisition, Beam intends to manufacture ScoutDI’s drone systems for the U.S. market in its existing U.S. factories. Beam intends to serve European and Middle Eastern markets from Beam’s European factories, which will be further enhanced by the retention of ScoutDI’s sales, engineering and manufacturing facilities.

The purchase price of approximately $24.0 million will be paid in a combination of cash and Beam common stock.