Saab Invests $13 Million to Boost Defence Tech with Comand AI Partnership
Saab's Strategic Investment in Comand AI
Investment Details
COPENHAGEN, June 17 (Reuters) - Swedish defence equipment maker Saab said on Wednesday it had invested €11.1 million ($12.9 million) for a 10% stake in Paris-based defence technology company Comand AI.
Enhancing Command and Control Capabilities
• 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.
Strengthening International Collaboration
• "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.
Regulatory Approval and Financial Context
• The deal is still pending approval from regulatory authorities.
($1 = 0.8621 euros)
(Reporting by Louise Rasmussen. Editing by Essi Lehto and Mark Potter)
