DOW JONES NEWSWIRES
Norwegian technology company Kongsberg Gruppen ASA (KOG.OS) said Monday that during NATO's Summit in Chicago, Kongsberg signed a EUR28 million contract with Northrop Grumman ISS International Inc for the development of software to the NATO Alliance Ground Surveillance (AGS) program.
-Kongsberg will develop solutions for storing, searching and retrieval of advanced sensor data from the RQ-4 Global Hawk.
-The contract extends over the next 3.5 years.
-NATO is in the process of acquiring the RQ-4 Global Hawk Unmanned Aerial Vehicles (UAVs) for ground- and sea surface surveillance, to which Kongsberg, together with Cassidian and Selex Galileo, are the main sub-suppliers to Northrop Grumman ISS International Inc.
-The contract involves the purchase of five RQ-4 Global Hawk units and associated ground systems.
-"This contract provides development tasks for completely new software and algorithms solutions. The technology is exciting and forward-looking and may be used in other areas in the defence and security context", says Eirik Lie, Executive Vice President in Kongsberg Defence Systems.
-Shares closed Friday at NOK96.50.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; email@example.com; Twitter: @DowJonesNordics
(END) Dow Jones Newswires
May 21, 2012 03:14 ET (07:14 GMT)
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