Leonardo is divesting its business line responsible for making torpedos. The defense company signed a definitive agreement with Fincantieri, one of the biggest shipbuilders in Europe, for the sale of Underwater Armaments Systems for up to $447 million. In a press release, Leonardo said Fincantieri will pay a fixed amount of about $323 million for...
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Category: Investment Security
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Oracle to Hire Local Talent for Expanded R&D Capabilities in Morocco; Safra Catz Quoted
Oracle has signed an agreement with Morocco to expand its research and development capabilities in the North African country. Oracle CEO Safra Catz and Ghita Mezzour, the minister of digital transition and administration reform in Morocco, finalized the partnership on Thursday. In a statement, Catz said the collaboration will allow Oracle to tap a deep...
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Red Hat Brings AI Tool to Sweden’s Learning Labs; Steven Huels Quoted
AI Sweden, a nonprofit center for applied artificial intelligence in the Nordic country, has integrated the Red Hat OpenShift containerization software product into its AI Labs platform, facilitating cross-organizational collaboration on developing AI models and applications. Agneta Jacobson, AI Sweden’s director of strategic partnerships, described the offering from the Colorado-based software company as a “powerful...
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Lithuania Defense Minister Invites US Defense Contractors to Invest in the Country
Lithuania’s Minister of National Defence Laurynas Kasciunas has invited American defense companies to invest in his country. During a recent meeting with William LaPlante, U.S. undersecretary of defense for acquisition and sustainment, Kasciunas mentioned Rheinmetall’s plan to build an ammunition factory in Lithuania and added that he hopes other defense companies will follow suit. “We...
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Accenture Closes Deal to Acquire Japan-Based System Integrator Climb
Accenture has completed its acquisition of Climb, a Japanese company that provides system integration and IT infrastructure management services to global organizations. With the completion of the deal, Accenture absorbed 230 personnel, the majority of whom are engineers trained in cloud and security technologies and application management services. The company said Climb’s core capabilities will...
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New UK Defense Investment Area Focuses on Capability Testing, Evaluation Methods
The United Kingdom’s Defence and Security Accelerator is seeking proposals on test and evaluation methods to help ensure the safety and value of deployed British defense and security capabilities. DASA said the project values for bids on its new Investment Focus Area, dubbed Unlocking the True Potential of Test and Evaluation for Defence, range from...
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IBM Investing $137M to Expand Chip Packaging Capacity in Canada; Dario Gil Quoted
IBM has signed agreements with the Canadian and Quebec governments to expand its chip packaging capacity in Canada. The tech company said the deals represent a total investment of $137 million in the country’s semiconductor industry. According to Dario Gil, senior vice president and research director at IBM, the partnership intends to build a stronger...
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Saab Seals Swedish Government Deal to Advance Development of Gripen Fighter; Lars Tossman Quoted
Saab will continue working with the Swedish government to further develop the Gripen aircraft for the country’s military needs. The aerospace company secured a $49.8 million order from the Swedish Defence Materiel Administration to advance the platform’s capabilities. The agreement will benefit both the Swedish Armed Forces and international users of the fighter jet, Saab...
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Autonomous Australian Navy Patrol Boat Concept Advances With Austal’s Sentinel Test Completion
Australia-based global shipbuilder Austal has announced the completion of seaworthiness tests of a remotely and autonomously operated vessel in collaboration with the Royal Australian Navy’s Warfare Innovation Navy branch. Other partners in the project, funded by the Australian government, include Greenroom Robotics and Trusted Autonomous Systems. The project, dubbed the Patrol Boat Autonomy Trial, utilized...
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US Expands Export Controls of Technologies to Russia, Iran Following Air Attack on Israel
The United States is expanding its list of items that require a license to be exported to Iran and Russia. On Monday, the Bureau of Industry and Security amended the Export Administration Regulations and added new items to the foreign direct product rules governing the two adversarial nations. FDP rules control the export of materials...
