# Airo Group plans to acquire Aspen Avionics and other companies

Airo Group has signed letters of intent to acquire six companies, including avionics manufacturer Aspen Avionics and urban air mobility developer VRCO, as part of Project Jupiter to form a new publicly traded aerospace and defense company.

- Type: Acquisition
- Announced: 2020-08-04
- Where: Albuquerque, New Mexico, United States
- Status: announced
- Products: avionics, urban air mobility vehicles
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Airo Group Holdings](https://endata.com/companies/15117.md) (acquirer)
- [Aspen Avionics](https://endata.com/companies/48724.md) (target)
- [VRCO](https://endata.com/companies/48725.md) (target)

## Sources

- [ainonline.com](https://www.ainonline.com/aviation-news/defense/2020-08-04/aspen-avionics-joining-new-aerospacedefense-group), 2020-08-04: "The group plans to bring nine companies together under Airo’s Project Jupiter after launching with founding companies Airo Drone and AgileDefense."
- [theairogroup.com](https://theairogroup.com/agreement-expands-airo-portfolio/), 2020-08-04: "This agreement is a welcome opportunity to grow and strengthen Aspen Avionics and the AIRO Group which will leverage the strengths of both businesses to benefit the general and commercial aviation community and high growth markets in autonomous flight."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.