Helsing, a Munich-based defense company focused on creating artificial intelligence-based military solutions and components, has secured over $490 million from a Series C financing round it initiated to raise funds for product research and development. U.S.-based venture capital firm General Catalyst led the funding round, with Elad Gil, Accel, Saab, Lightspeed, Plural and Greenoaks as...
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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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IBM Buys SiXworks for $150M to Grow UK Public Sector Business
IBM expanded its market presence in the public sector with its acquisition of U.K. defense consultancy company SiXworks. The multinational technology firm said in a blog post on Tuesday that SiXworks’ digital, cyber and defense cloud capabilities complement its existing U.K. offerings on cybersecurity, data and artificial intelligence. IBM purchased SiXworks from London-based private equity...
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US to Send More Powerful Fighter Jets to Japan Bases Amid Increasing Regional Tension
The U.S. Department of Defense will deploy newer fighter jets to Japan as part of a $10 billion modernization plan designed to enhance regional deterrence and maintain stability in the Indo-Pacific. It recently unveiled the capability modernization plan for multiple military installations across Japan. According to DOD, the Air Force will send 36 F-15EX Eagle...
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European Investment Fund, NATO Partner to Improve Regional Defense Sector Investment
The European Investment Fund has launched an initiative to strengthen investments in the continent’s defense and security capabilities. In a memorandum of understanding with the NATO Innovation Fund, the two organizations aim to encourage private capital funds to allocate more of their investments towards the region’s defense and security industry. The MOU includes plans for...
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Airbus Working to Acquire Specific Spirit AeroSystems’ Aircraft Parts Production Activities
Airbus has announced an agreement with Spirit AeroSystems to acquire some of the latter’s operations, particularly the manufacture of key aircraft components. The “definitive agreement” could lead to the purchase of Spirit’s specific activities, including the production sites for A350 fuselage sections and A220 pylons in the United States, Airbus said. The ongoing transaction would also...
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Humanitarian Organization to Employ AI to Accelerate Landmine Clearance in Ukraine; Dave Levy Quoted
Halo Trust, a humanitarian organization based in Scotland, will test artificial intelligence to clear landmines in Ukraine. The nonprofit, which specializes in removing explosive devices left behind by conflicts, has secured $4 million from Amazon Web Services to use AI to identify landmines through drone imagery. Drones are critical to Halo’s operations in Ukraine. The...
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ExoAnalytic Solutions Acquiring 3S Northumbria to Provide Enhanced SSA Services
ExoAnalytic Solutions is acquiring 3S Northumbria, a British startup specializing in space technology and data integration and providing solutions for space situational awareness. The acquisition is expected to improve ExoAnalytic’s data sharing and operational coordination capabilities and expand its SSA service portfolio and presence in the United Kingdom and other European countries. According to Douglas...
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UK to Boost Defense Budget With $109B Annual Spending Eyed by 2030
The United Kingdom plans to increase defense spending to 2.5 percent of its gross domestic product by 2030, U.K. Prime Minister Rishi Sunak said Tuesday. According to the prime minister, the allocation will result in an additional $94 billion in defense expenditures in the next six years and $109 billion in annual spending by the...
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CGI Expands in Florida Growth Market With Acquisition of Momentum Consulting
CGI announced on Wednesday that it has acquired information technology firm Momentum Consulting. Miami-based Momentum, which provides digital transformation, data analytics and managed services, adds to CGI’s Florida business presence, which already includes the cities of Melbourne, Orange Park and Tampa. Tim Hurlebaus, president of U.S. commercial and state government operations at CGI, noted that the two...