05:39 PM EDT, 08/12/2026 (MT Newswires) -- Aevex ( AVEX ) said late Wednesday that it has signed a definitive agreement to acquire BlackSea Technologies, a leading provider of unmanned surface and subsea vessels to the US defense market, for up to $650 million.

Aevex ( AVEX ) will acquire BlackSea for up to $650 million on a cash-free, debt-free basis, with about $250 million in cash and $350 million in Class A shares of Aevex ( AVEX ) priced at $27.50 each, the company said.

The transaction also includes $50 million in performance-based earnout consideration, the company added.

The acquisition is expected to close in September, subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and customary closing conditions.