DroneShield has today released an ASX announcement with regards to its teaming agreement with Kuwait’s Zain Group. The announcement is as follows:
DroneShield Ltd (the “Company” or “DroneShield”) is pleased to announce that, following the execution of a Teaming Agreement with Kuwait’s Zain Group (“Zain”), a US$7 billion leader in telecommunications in the Middle East, announced to the market on 5 December 2018, Zain has now placed an order for DroneShield’s equipment. While the value of the order is not material to DroneShield’s overall revenues, it represents an important step in the evolution of DroneShield’s relationship with Zain.
DroneShield’s Chief Executive Officer Oleg Vornik, said “Our key Middle Eastern partner Zain, which operates across a number of Middle Eastern countries and has a workforce of over 6,000 and over 47 million active individual, business and governmental customers in the region, has financially committed to the partnership by ordering our equipment. Just weeks ago, Zain announced the establishment of its Zain Drone business that will serve governments and enterprises in Kuwait, with plans to extend the business gradually across Zain’s regional footprint. Zain selected DroneShield as its counterdrone partner because, in the words of Zain Group’s CEO Bader Al Kharafi, as set out in Zain Group’s release about its partnership with DroneShield, “DroneShield’s product range, coupled with our telecommunications expertise, provides exactly what our [Zain’s] customers are looking for. Consequently, after an extensive review of the counterdrone market, we [Zain] opted to enter into a Teaming Agreement with DroneShield.”
DroneShield looks forward to building on its recent successes in the Middle East and elsewhere, together with Zain.”