Spanish defense company Indra says it has agreed to acquire uncrewed air system provider Wake Engineering as part of a push by the company to grab market share.
Indra, which did not disclose what it has agreed to pay CPS Group for Madrid-based Wake Engineering, said on Dec. 17 that the deal would bolster its weapons and ammunition division with an eye on supporting both drone and counter-drone system development.
The acquisition is being driven by a desire to capture more of the Spanish defense market, particularly linked to the government's decision to launch an almost €7 billion ($8.2 billion) investment program to modernize its military.
Buying Wake Engineering will allow Indra to more quickly deliver on drone delivery commitments, Indra said.
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