Beam Global (Nasdaq: BEEM) announced on October 7, 2026, that it has executed a Share Purchase Agreement to acquire drone technology company ScoutDI. The transaction is valued at approximately US$24 million and will be paid through a combination of cash and Beam common stock. Beam expects the acquisition to close in November 2026, subject to customary closing conditions.
Strategic Rationale and Market Expansion
Upon completion, Beam intends to manufacture ScoutDI drone systems for the U.S. market in its existing U.S. factories. The company will serve European and Middle Eastern markets from its European facilities, supported by the retention of ScoutDI sales, engineering, and manufacturing operations. ScoutDI has customers in 30 nations, including ExxonMobil, Chevron, Oceaneering, Ørsted, DEKRA, Applus+, Kiwa, and Apave.
Technology and Regulatory Positioning
ScoutDI's Scout 137 Gen3 was the first European drone system, and among the first four systems overall, to receive Conditional Approval from the U.S. Department of Defense. The system has been exempted by the Federal Communications Commission from its Covered List, allowing it to be sold in the United States. Beam intends to manufacture the product domestically following the closing, consistent with ScoutDI's U.S. onshoring plan.
Financial Terms and Earn-Outs
Beam Global has secured commitments, subject to customary transaction requirements, for non-dilutive financing sufficient to fund the cash portion of the acquisition at closing on acceptable terms. ScoutDI sellers are eligible for full earn-out payments in 2026 and 2027 if drone and software revenues exceed 150% and 160% of 2025 revenues, respectively. Earn-outs may be paid in a combination of cash and Beam common stock, and ScoutDI's main shareholders, DNV, Equinor Ventures, and Klaveness, will hold Beam stock as a result of the acquisition.
Leadership Comments
Beam Global's Chairman and CEO Desmond Wheatley said the ScoutDI acquisition will be a highly advantageous evolution of the business because ScoutDI has an established global drone and software business with impressive margins and recurring revenues. He noted that the technology suits many additional applications for enterprise and government customers, which Beam intends to pursue through its global network. Wheatley added that ScoutDI's Conditional Approval from the U.S. Department of Defense positions Beam factories to deliver required domestic manufacturing without material increases in capital or operating expenditure.
ScoutDI CEO Nicolai Husteli said joining Beam is an exciting next step because customers already rely on ScoutDI products to inspect confined spaces that are dangerous and costly to enter. He said Beam brings U.S. manufacturing, global footprint, and energy expertise to scale the technology faster, with U.S. production key to commercial, government, and defense markets. Husteli will continue to lead ScoutDI within Beam, and the Scout Portal software generates recurring subscription revenue.
Industry Context and Outlook
The global drone market has an estimated value of US$96.4 billion in 2026, up nearly 15% from 2025, and is projected to more than double by 2033, according to Grand View Research. North America accounts for roughly 40% of the global drone market, while Europe accounts for nearly 27%. Beam sees opportunities in industrial inspection, public safety, security, and defense applications, including mines, tunnels, sewers, tall buildings, and structures where drones can enter ahead of personnel.
Beam Global believes the acquisition positions it to become a vertically integrated drone manufacturer in the U.S. that also produces its own batteries and offers patented BeamFlight technology for remote recharging without grid infrastructure. The combination of ScoutDI's international customer base, defense-related approval, and recurring software revenue creates multiple growth pathways for Beam. With closing expected in November 2026, the company expects the transaction to strengthen its role in energy, mobility, and intelligence infrastructure.