Saab invests $13 million in defence technology company Comand AI
FILE PHOTO: The Saab Technologies logo is displayed during the fifth day of Dubai Air Show in Dubai, United Arab Emirates November 21, 2019. REUTERS/Christopher Pike/File Photo
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COPENHAGEN, June 17 : Swedish defence equipment maker Saab said on Wednesday it had invested €11.1 million ($12.9 million) for a 10 per cent stake in Paris-based defence technology company Comand AI.
• The investment will help Saab develop its command and control capabilities (C2) as well as its capabilities in command, control, communications, computers, cyber, intelligence, surveillance, and reconnaissance (C5ISR), the company said.
• “By partnering with Comand AI, we are strengthening the development of Saab’s C2 and C5ISR capabilities while bringing Swedish defence expertise and French AI innovation together,” Saab said.
• The deal is still pending approval from regulatory authorities.
($1 = 0.8621 euros)
Source: Reuters
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