Saab Acquires 10% Stake in Comand AI

Swedish defense company Saab has acquired a 10% stake in French Comand AI. The transaction is valued at €11.1 million, or approximately $12.9 million.

Comand AI is a Paris-based company that works on artificial intelligence technologies. For Saab, this investment is linked to strengthening its own technological capabilities in the defense sector.

The company plans to use Comand AI's technologies in command and control systems, intelligence, surveillance, and cybersecurity directions. According to Saab's assessment, French artificial intelligence expertise will provide its defense systems with additional capabilities.

The transaction will be finalized once it is approved by the relevant regulatory authorities.

Source: Investing.com