Saab invests $13 million in defence technology company Comand AI
Saab invests $13 million in defence technology company Comand AI COPENHAGEN, June 17 (Reuters) - Swedish defence equipment maker Saab SAABb.ST said on Wednesday it had invested €11.1 million ($12.9 million) for a 10% 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)
(Reporting by Louise Rasmussen. Editing by Essi Lehto and Mark Potter)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))