Tech: Droneshield signs deal with Bosch to expand its network of drone-watchers
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It’s been a busy week for DroneShield Ltd (ASX:DRO), the company which manufactures products used to fend off drone-based threats (yes, that includes a massive drone gun).
It’s only Wednesday, but so far DRO has made three straight announcements in connection with various grants and partnership agreements.
And today’s update got the most traction with investors — an integration deal with Bosch, the multinational engineering and technology company.
Droneshield said it is now supplying an “integrated system for drone detection and mitigation”, which will be used in conjunection with Bosch’s video surveillance products.
Shares in DRO initially jumped more than 20 per cent in morning trade before easing back slightly.
Both companies said the integration of their respective product offerings is completed, and “the combined solution is available to customers at present”.
Stockhead has contacted Droneshield for comment on how the deal is expected to impact the company’s revenue projections.
Droneshield CEO Oleg Vornik said the agreement effectively allows Bosch customers in the Asia-Pacific to add a counter-drone capability to their existing surveillance systems.
Earlier this week, DRO announced it had won a grant from the NSW government’s defence innovation network to further develop technologies focused on drone detection.
That was followed by a deal yesterday with Altitude Angel, the UK-based provider of unmanned traffic management services.
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