Mate wins ₤ 16m systems agreement in Australia – ShareCast

Cohort revealed a landmark agreement through its subsidiary Chess Dynamics on Tuesday, valued at ₤ 15.7 m, with BAE Systems Maritime Australia for the arrangement of the sophisticated Sea Eagle monitoring systems. The AIM-traded company stated the systems were set to boost the abilities of the Royal Australian Navy’s Hunter class frigates. It stated the Sea Eagle system offers exceptional monitoring abilities, using detection, tracking, and recognition functions for both surface area and aerial targets. The task was set to begin right away, marking a substantial stage in boosting the Royal Australian Navy’s functional abilities. Mate stated the effort was set up to cover till 2031, making sure a long-lasting upgrade in security and defense mechanism aboard the Hunter class frigates. “This order supplies additional verification of the ability and competitiveness of Chess’s Sea Eagle system, and we are pleased to include the Royal Australian Navy to the user base,” stated president Andy Thomis. “This, integrated with the current agreement with the Royal Canadian Navy, shows the continuing growth of Cohort’s worldwide client base. “Together with other current agreement wins throughout the group, this more underpins our order book and boosts the presence of future profits.” At 1218 GMT, shares in Cohort were up 0.97% at 595.7 p. Reporting by Josh White for Sharecast.com.

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