True Velocity sues Sig Sauer, alleging stolen trade secrets

On the same subject

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  July 26, 2019 | International, Aerospace, Security

  Private equity firm to buy UK defense company in $5 billion deal

  By: Kelsey Reichmann WASHINGTON — The U.S. private equity group Advent International Corp. will acquire U.K. defense firm Cobham plc for £4 billion, or $5 billion, on Thursday. Advent, which has completed over 345 buyouts in 41 countries, purchased Cobham through its indirect subsidiary AI Convoy Bidco Limited. “We have worked intensively over the last two and half years to focus on our customers and our financial and operating performance, and these fundamentals, along with the investment in the business Advent can provide, will enable us to leverage the quality of our products and services," said David Lockwood, CEO of Cobham, in the press release. "Most of all, this offer reflects the potential for future growth and improving performance, and is an endorsement of our turnaround strategy and our hard working people.” Cobham, which creates products for the defense, aerospace, and space industries, is ranked 57 on the Defense News Top 100 with 64 percent of its annual revenue, or $1.59 billion, coming from defense. The deal is expected to be completed before the end of 2019, according to the press release. https://www.defensenews.com/top-100/2019/07/25/uk-defense-company-acquired-for-5-billion/

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  November 21, 2023 | International, C4ISR

  Secretary General underlines the importance of NATO’s partnership with Serbia

  On Tuesday (21 November 2023), NATO Secretary General Jens Stoltenberg had discussions in Belgrade with President Aleksandar Vučić of Serbia. Mr Stoltenberg and President Vučić addressed the latest security developments in the Western Balkans, NATO’s role in the region, and strengthening Serbia’s partnership with the Alliance.

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  July 27, 2018 | International, Land

  Italy buys new tank — and it’s got much more going for it than its predecessor

  By: Tom Kington ROME — The Italian Army has signed a €159 million (U.S. $186 million) contract to acquire 10 Centauro II wheeled tanks, the first tranche of a planned 136-vehicle order. Manufactured by a consortium grouping Italian firms Leonardo and Iveco, the Centauro II is faster, more powerful and better protected than the Centauro tank already in service with the Italian Army, which it will replace. The new 30-ton Centauro features a 120mm cannon, digital communications and a 720-horsepower engine, and is seen by planners as a lightweight tank able to complement the Freccia armored troop carrier on which the Army is basing its new medium brigades. The new tank's enhanced digitalization means it will work better with the digital capabilities of the Freccia, and it provides 24 horsepower per ton compared to 19 for the old Centauro. Generals see the new Centauro as lighter and more flexible than a traditional tank, but with the same destructive power. The eight wheels of the new Centauro, which make it better suited for peacekeeping operations than a tracked vehicle, extend farther out from the hull of the vehicle than its predecessor to give it greater stability. The new design also means that any mines triggered by the pressure of the tire will detonate further from the hull. The Iveco-Oto Melara Consortium, or CIO, was established in 1985 on a 50-50 basis between Iveco and Oto Melara, which is now part of Leonardo. Leonardo said it was responsible for the vehicles' turret, including observation, targeting and communications systems, and was responsible for a €92 million share of the €159 million contract. https://www.defensenews.com/land/2018/07/26/italy-buys-new-tank-and-its-got-much-more-going-for-it-than-its-predecessor