By Matthias Inverardi and Miranda Murray

DUESSELDORF, Germany (Reuters) -Auterion CEO Lorenz Meier said having German defence player Rheinmetall on board as a “significant” shareholder in the U.S.-based drone software firm would help it grow its order book, adding that it would not lead to a full takeover.

Auterion already provides software for some Rheinmetall drones and the direct investment, which was announced this week, is a way to strengthen collaboration, Meier told Reuters.

He did not disclose the exact size of Rheinmetall’s stake, which while “significant”, was not a blocking minority.

“We’re incredibly pleased with this honour, especially in the German market,” said Meier, adding that closer ties between the two firms could help Auterion win more contracts.

STRONG COLLABORAT

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