Defence and security company Saab has purchased the rights to the protection technology Soft Armour, and associated assets, from protection technology company Protaurius AB. The acquisition is the first step into the field of ballistic protection technology.
Soft Armour is a patented technology that uses a spherical ceramic material to protect people and sensitive equipment from fine calibre and armour piercing ammunition. Soft Armour is self-healing and can withstand multiple hits in the same area. It can also be used in construction solutions, such as walls, shields and soft coverings.
"The acquisition of the rights to Soft Armour is a complement to our wide product portfolio within advanced camouflage. We are now expanding our investment in this type of product in both military and civil segments," says Anders Wiman, Managing Director of Saab Barracuda.
Saab Barracuda has previously collaborated with Protaurius whereby Barracuda marketed the product in certain markets.
"With this transaction, Barracuda is taking the first step in strategically widening its product portfolio beyond the technical field of signature management," continues Anders Wiman.
Soft Armour has been developed by specialists with vast experience of protective products for military, police and civilian purposes. It is an environmentally friendly and ricochet free protection against projectiles and shrapnel with a predictable and customisable level of protection that is easy to transport and handle. Soft Armour can also be reused and stored in bulk.
Saab Barracuda, with operations inSweden, theU.S.andIndia, is a world leader in the field of advanced camouflage and signature management solutions for the defence market. Barracuda is part of the Dynamics business area, one of the six business areas at Saab.
Source: Saab AB (OMX Stockholm: SAAB B)
Date: Mar 8, 2013