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Shares soar as US government buys up Aussie company’s anti-drone tech

Nick Bonyhady
Nick BonyhadyTechnology writer

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Shares in ASX-listed defence technology company DroneShield have soared 19 per cent, after it struck a $33 million deal to sell equipment to the United States Department of Defence, underscoring the importance of the versatile unmanned vehicles to modern warfare.

DroneShield makes systems that stop drones from communicating with their controllers or satellites, rendering them useless. Some are mounted on vehicles or the buildings, but its most popular products, which resemble an oversized rifle, are designed to be carried.

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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com

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    Original URL: https://www.afr.com/technology/shares-soar-as-us-government-buys-up-aussie-company-s-anti-drone-tech-20230717-p5dosl