iscover
Electro Optic Systems has announced that it has entered into an agreement to acquire the UK-based interceptor business from MARSS Group for a total initial investment of approximately $10 million.
The acquisition of complementary counter-drone capability is expected to bring promising growth with a future counter-drone product mix. The acquisition is expected to be integrated into EOS’ product portfolio for sale to existing and new customers.
The acquisition is expected with 12 to 24 months of further development before full commercial launch. Further EOS investment of up to $10 million over the next three years, with potential for customer development funding.
“We see the interceptor product as a perfect complement to our existing product suite. This acquisition gives us a low collateral, cost-effective effector that we can integrate quickly,” said Dr Andreas Schwer, EOS chief executive officer.
“We see the interceptor as accretive to our portfolio, supplementing our existing capabilities and, in particular, civil- and homeland security markets.”
Interceptor drones are being developed and deployed for use in Ukraine and other conflicts. The technology is envisioned to provide agility to defeat equally fast moving and agile threats, with a range to operate at distances up to five kilometres and lower cost compared to traditional rockets and missiles.
In addition, they are expected to be more effective than some soft-kill effectors, create low collateral damage and use advanced AI to counteract intelligent targets.
Following the launch, the system pursues the target with onboard imaging, an infrared seeker and market-leading AI-based guidance, which can be operated fully autonomously if required.
The system is compact and mobile, suited to fixed sites and vehicle deployment and is designed to integrate with common sensors and command and control systems as part of a layered counter-drone solution. A version of the system can be side-loaded to EOS’ RWS.
The acquisition is consistent with EOS’ stated strategic intent of expanding its counter-drone capability and offers several strategic benefits.
Benefits include a broadening EOS counter-drone “effector” portfolio to complement EOS’ RWS and high-energy laser weapons.
EOS has agreed to acquire all of the interceptor assets from MARSS and employ the expert team of specialised engineers that created this product to continue its development.
The initial investment of $10 million will be funded from EOS’ existing cash reserves. It is expected that there will be no material impact on near-term financial results.
Completion is expected following receipt of required approvals and satisfaction of customary conditions. EOS will provide further updates in line with its continuous disclosure obligations.
