Signal: Xalles Holdings completes acquisition of Artemis Defense Technologies

US-based Xalles Holdings announced at the end of December 2023, the acquisition of UK-based Artemis Defense Technologies, which specializes in autonomous and artificial intelligence (AI) technologies, marking the first corporate members of the newly formed Xalles Security business group.

In official filings on December 20, Xalles Holdings said that Artemis now operates as a fully integrated subsidiary and is now “ready to expand its presence in the US” to align with “key initiatives of the US Department of Defense”, including the program Replicator drone and the contribution to the trinational AUKUS program between Australia, UK and USA.

Xalles said Artemis’ autonomous systems technologies could “significantly impact” the future of scalable autonomy in defense and homeland security.

Thomas Nash, CEO of Xalles, said: “This acquisition is a game-changer for Xalles, perfectly aligned with our objective to diversify our portfolio and enhance shareholder value in high-growth markets. The field of defense autonomy and artificial intelligence offers huge potential for growth and we are poised to become a major player in this field.”

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From GlobalData

Carl Cagliarini, CEO of Artemis, said the deal was a “transformational moment” for the company, which had secured “vital partnerships and projects with the government, prime defense contractors and NATO defense services”.

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The global aerospace, defense and security industry saw a 40% decline in the number of AI-related patent applications in the third quarter of 2023 compared to the previous quarter. The total number of AI-related grants fell by 21% in the third quarter of 2023, according to GlobalData’s Patent Analytics.

ai patents graph

Specifically, the number of patent applications related to artificial intelligence in the aerospace, defense and security industry was 325 in the third quarter of 2023, compared to 542 in the previous quarter.

Our signal coverage is powered by Topic Engine by GlobalDatawhich labels millions of data items in six alternative datasets — patents, jobs, deals, Company filings, mentions social media and news — across topics, sectors and companies. These signals enhance our predictive capabilities, helping us identify the most disruptive threats in each of the sectors we cover and the companies best suited for success.



Read the original at Defence247.gr

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