Northrop Grumman is securing from defense and aerospace communications company Genohco the hardware components for South Korea’s mine countermeasures helicopter program. The hardware supply, set through a recently signed memorandum of understanding between the two companies, supports Northrop’s 2023 contract with Korea Aerospace Industries to deliver airborne laser mine detection systems to South Korea’s KMCH...
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Category: Investment Security
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Oracle Expands Mideast Footprint, Opens New Public Cloud Region in Riyadh
Oracle has launched a second public cloud region in Saudi Arabia, part of the company’s $1.5 billion investment to help advance the kingdom’s cloud infrastructure and artificial intelligence-based economy. The Austin, Texas-based cloud services provider, which already operates a public cloud region in Jeddah, added the new center in Riyadh, with plans to set up...
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US Offers $450M Grant to Help SK hynix Build Memory Packaging Fab in Indiana
The U.S. Department of Commerce and Korean chipmaker SK hynix have reached a preliminary agreement of up to $450 million in proposed federal incentives to support the company’s construction of an advanced packaging and research plant in Indiana. The new building at the Purdue Research Park in West Lafayette will house a production line capable...
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Canada, US Advance Negotiations on Space Launch Technology Safety; François-Philippe Champagne Quoted
Canada has concluded substantive negotiations on the Technology Safeguards Agreement with the United States, which will benefit the local commercial space launch industry. In bilateral talks, the two nations made significant advancements in the legalities and technicalities to be integrated into the TSA. Once signed, the agreement would provide Canadian companies access to U.S. space...
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US Extends $500M Package to Aid Philippine Military’s Maritime Modernization; Lloyd Austin Quoted
The United States said a $500 million package under the Foreign Military Financing program is in the works to aid the Philippines in advancing its intelligence, surveillance and reconnaissance capabilities for maritime domain awareness. Defense Secretarty Lloyd Austin was in Manila alongside State Secretary Antony Blinken in late July to announce the measure. According to Philippine...
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Accenture to Enhance Fiber, Mobile 5G Network Engineering Services With FiberMind Acquisition
Accenture has acquired Italian network services company Fibermind in a bid to enhance its fiber and mobile 5G network engineering services for customers. The acquisition was completed six weeks after Accenture announced its intent to buy Fibermind, which has over two decades of experience serving customers in the public and private sectors and established client...
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L3Harris Launches Australian Center of Excellence for Electronic Warfare Technology
L3Harris Technologies has opened its new Center of Excellence for Electronic Warfare in Queensland to design and manufacture EW technology for the Australian military. The facility will also support the development of L3Harris’ space, intelligence and cyber products and the delivery of T4 and T7 robots to the Australian Defence Force under the Land-154 program,...
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BlackBerry Names New Chief Financial Officer; John Giamatteo Quoted
BlackBerry has named Tim Foote as chief financial officer, reporting directly to CEO John J. Giamatteo. In a press release on Monday, the company announced that Foote and two other executives are joining the finance team. Foote has been with the company since it acquired Good Technology in 2015. Before his new role, he held...
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Korean Aerospace Company Becomes Major Shareholder in Ghost Robotics; Gavin Kenneally Quoted
LIG Nex1, a South Korean defense technology company, has acquired a 60 percent control stake in Philadelphia-based Ghost Robotics for $240 million. The acquisition is expected to advance the development and fielding of autonomous robotic platforms, including Ghost Robotics’ Vision 60 ground drone. Ghost Robotics will use LIG Nex1’s defense sector expertise and manufacturing capabilities...
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Fluor, RoPower Nuclear Partner for Phase 2 of Romanian Small Modular Reactor Facility
Fluor is collaborating with RoPower Nuclear for Phase 2 of the front-end engineering and design work at a small modular reactor facility in Doicesti, Romania. The partnership will focus on customizing a six-reactor SMR power plant with NuScale technology, which, according to European codes and standards, could produce up to 462 megawatts. The two companies...