Unibap AB (publ) has finalized the previously announced intention to license its Artificial Intelligence (AI) processing technology to Moog Inc. The license covers Unibap's core space technology, both hardware designs and software stacks. The technology transfer will occur during the first half of calendar year 2019.
The final agreement terms have been modified slightly from the term sheet announced on November 27, 2018. Moog will pay an upfront license fee for the technology. Moog will have exclusive rights to sell all of Unibap's products in the United States for aerospace and defense applications. The agreement is four years with option to extend the license.
The license covers any Unibap products specific to aerospace and defense applications but does not include the use of vision-based products for aerospace and defense applications. Unibap will continue to sell and distribute its current and future lower-end products, typically for smaller satellites, directly, outside of the United States.
"I am very enthusiastic about the business relationship with Moog," said Dr. Fredrik Bruhn, CEO of Unibap. "It is a perfect match to our strategy to lead the innovation in intelligent information processing. This is a long-term partnership where we together can increase sales and strengthen our market position in advanced onboard data processing."
"We are pleased to be working with Unibap's products and technology to advance our opportunities for the most advanced processing requirements and Artificial Intelligence (AI) for space and defense and other aerospace applications," said Pete Hirneise, general manager of Moog Broad Reach. "We look forward to expanding the market for this technology in the United States."
Disclaimer. For complete information, please see the Swedish press release. För fullständig information, vänligen se det svenska pressmeddelandet.
For more information, contact:
+46 70 7833215
The company is a modern IT company at the forefront of integration of AI solutions and robotics. Unibap digitizes industry's production and manufacturing by giving blind robots vision in combination with human abilities for quality and automation. The background to Unibap is experience from many years of space exploration, of manufacturing rugged industrial computer solutions and robotics solutions.
For more information, please visit the Company's website unibap.com.
Mangold Fondkommission AB, phone. +46 8 5030 1550, is the Company's Certified Adviser.
About Moog Inc.
Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog's high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com and www.moog.com/products/avionics-software-gnc.html