Draganfly Completes Sale of its Sauce Video Technology Asset to Oracle
May 06, 2020 09:15 ET | Source: Draganfly Inc
Los Angeles, CA, May 06, 2020 (GLOBE NEWSWIRE) -- Draganfly Inc. (CSE: DFLY) (OTCQB: DFLYF) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading manufacturer within the commercial Unmanned Aerial Vehicle (“UAV”), Remotely Piloted Aircraft Systems (“RPAS”), and unmanned vehicle sector (“UVS”), is pleased to announce that its wholly-owned subsidiary, Draganfly Innovations Inc., has sold its technology asset, Sauce Video, to Oracle Corporation, (NYSE: ORCL) a multinational computer technology corporation.
The sale of this non-core asset provides Draganfly with non-dilutive capital for its ongoing core business objectives and operations. Sauce Video is a video content creation and sourcing solution that allows companies to collaborate with their employees, customers, and fans to create digital video content. Sauce Video’s solution reduces the complexity and cost of video creation, enabling customers to easily capture, collect, and create videos for a wide range of use cases, including marketing, sales enablement, recruiting, and employee engagement. The sale of this asset does not preclude Draganfly from accessing or using Sauce Video in the future. The net proceeds to Draganfly is US$854K.
Draganfly Inc. (CSE: DFLY; OTCQB: DFLYF; FSE: 3U8) is the creator of quality, cutting-edge, UVS and software that revolutionizes the way people do business. Recognized as being at the forefront of technology for over 22 years, Draganfly is an award-winning, industry-leading manufacturer within the commercial UAV and UVS space, serving the public safety, agriculture, industrial inspections and mapping and surveying markets. Draganfly is a company driven by passion, ingenuity and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money and lives.
For more information on Draganfly, please visit us at www.draganfly.com.
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