EOS Jumps 14% on US$124m Order and UAE Laser Weapons JV

Electro Optic Systems Lasers in on Middle East with US$124 Million Slinger Deal and Abu Dhabi Joint Venture

The battlefield for drone defence is heating up, and Electro Optic Systems has just placed itself squarely at the centre of the action. The Australian defence contractor saw its shares rocket as much as 16.7% to €6.48 on Thursday after unveiling a multi-pronged pact with Abu Dhabi‑based Generation 5 Holding that combines a major hardware […] The post Electro Optic Systems Lasers in on Middle East with US$124 Million Slinger Deal and Abu Dhabi Jo…

EOS Jumps 14% on US$124m Order and UAE Laser Weapons JV

KEY POINTS EOS (ASX: EOS) shares jumped about 14% to around A$10.66 after a US$124 million Slinger counter-drone order and a new laser-weapons joint venture in the UAE. The order is the biggest Slinger deal the company has ever won, and it comes from a customer that is also becoming a shareholder. The 50/50 Abu Dhabi venture with Gen5 is chasing laser contracts that could dwarf today’s order. The stock has bounced off a recent pullback, but it …