GCA Advises Skyward on Its Sale to Verizon
Skyward provides software that helps companies manage drone operations, improve safety and lower operating costs through a single source technology that integrates, manages and wirelessly connects drone operations.
This transaction brings drone operations management to Verizon’s Airborne LTE Operations (ALO) initiative, part of its broader IoT portfolio. With Skyward’s technology, Verizon will streamline the management of drone operations through one platform designed to handle end-to-end activities such as mission planning, complex workflow, FAA compliance support, supplying information about restricted airspace and pilot credentialing, drone regulation and provisioning rate plans for drones on Verizon’s network.
GCA acted as exclusive financial advisor to Skyward in connection with this transaction.
Skyward is the leading operations management solution for commercial drone businesses. Skyward helps companies save time and scale faster by connecting all of the people, projects and equipment in a drone program, into one efficient workflow. Headquartered in Portland, Oregon, the company was founded by career pilots and computer science experts with a mission to ensure that the highest standards of safety and professionalism are carried into this new era of aviation. For more on Skyward, visit www.skyward.io.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York City, has a diverse workforce of 160,900 and generated nearly $126 billion in 2016 revenues. Verizon operates America’s most reliable wireless network, with 114.2 million retail connections nationwide. The company also provides communications and entertainment services over mobile broadband and the nation’s premier all-fiber network, and delivers integrated business solutions to customers worldwide. For more information, visit www.verizon.com.
GCA is a premier global investment bank serving a broad client base through its M&A, debt and equity capital markets, private funds, restructuring, and asset management advisory services. Founded in 2004, GCA is committed to providing unbiased, insightful advice and building long-term relationships based on trust. With 14 offices and over 300 banking professionals worldwide, GCA provides deep expertise in a range of industries, including technology, healthcare, industrials and business services. For more information, visit www.gcaglobal.com.