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Auterion CEO: Rheinmetall Deal Boosts Orders, Not Takeover
20 Nov
Summary
- Rheinmetall's significant investment in Auterion aims to enhance collaboration.
- Auterion expects the partnership to expand its order book considerably.
- The company, founded in 2018, became profitable this year with 100 million euros revenue.
Auterion's CEO, Lorenz Meier, announced that German defense firm Rheinmetall has become a significant shareholder, a move expected to substantially grow Auterion's order book. Meier emphasized that this strategic investment is designed to strengthen collaboration, not lead to a full takeover, assuring Auterion's continued independence. The partnership aims to deepen ties between the two companies, potentially securing more contracts for the drone software provider.
Rheinmetall and Auterion are already cooperating on drone components, seeking to establish industry standards for drone control. Auterion, established in 2018, has achieved profitability this year, reporting annual revenues of approximately 100 million euros and employing 160 staff, with growth anticipated. The company currently provides software for Rheinmetall's drones used in fulfilling orders for loitering munitions.
With existing clients including the U.S. and Ukraine, Auterion anticipates a German order following a recent successful drone swarm control system demonstration. This strategic alignment with Rheinmetall is set to benefit Auterion's expansion efforts, particularly as demand for defense technologies increases across Europe.
