LIGHTHOUSE GLOBAL HOLDINGS, INC. (LHGI), a Holdings Company for Tech Start-ups, is set to expand its acquisition target to include a range of revenue generating companies that have impact on the ESG (Environmental, Social, Governance) sectors
Las Vegas, Nevada–(Newsfile Corp. – June 24, 2020) – Lighthouse Global Holdings, Inc. (OTC Pink: LHGI) (“LHGI“) has signed a MOU with Aero360 Solutions Inc., Philippines (AERO), to acquire up to 20 percent in exchange for LHGI ordinary restricted shares within the next 6 to 12 months, subjected to AERO’s performance.
Image 2: Danny Lim – CEO of Lighthouse Global Holdings, Inc.
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With the signing of MOU with AERO, LHGI will start its due diligence on AERO’s financials and technology edge as well as the feasibility study into the Philippines drone market.
It is said that LHGI would have expected AERO to secure a leading pole position in UAV technology applications in the Philippines over the next 6 months. To necessitate the acquisition, LHGI and AERO will sign a more definitive Agreement, which will include LHGI to provide the necessary funding to help AERO achieve its milestone. Upon achieving a certain milestone, LHGI will then proceed to acquire up to 20 percent of AERO.
AERO’s strategy for the next 5 years is to capitalise on the market opportunity and make a name on the global arena. At the moment, AERO is now gearing up to expand to countries such as India, Australia, USA, Switzerland, Japan, Indonesia and Malaysia. This will help to grow AERO exponentially with strategic partnership and licensing of technologies.
The drone market is increasingly crowded, with thousands of start-ups all vying for a niche market. Basically, a drone can derive unlimited applications through innovations. However, it is limited by its payload, flight time and utilities. Any technology that can achieve a better efficiency will win the market.
It is noted that the drone market will grow from $14 billion in 2018 to $43 billion worldwide by 2024. Market intelligence stated the commercial drone industry will far outpace the growth of the military sector. However, at least 25 drone start-ups are closing or pivoting as they struggle to find a market fit, while 60 start-ups had been acquired or consolidated. Big players such as Airwave and GoPro have decided to close shop and Parrot has ceased production of poor-performing consumer models.
On the brighter side, special purpose industrial drone companies such as Zipline have continued to boom and investments in the drone start-ups industry have risen, surpassing US$1.2 billion in 2019. The Drone Industry Insights quoted that the 2020 market outlook may have another record-breaking year for VC deals, if not for the COVID19 pandemic.
Mark Villaflor, the CEO of AERO, commented; “We had received many opportunities to grow and expand beyond our current capabilities. With additional funding, we will be able to take advantage of the demand and grow rapidly. With LHGI as our potential Stakeholder, we are confident to reach our next level quickly.”
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/58437