Paras Defence Secures Exclusive IP License for Counter-Drone Technology
Paras Defence and Space Technologies Limited has signed an Intellectual Property (IP) License Agreement with Tandem Defense LLC, securing an exclusive right to utilize advanced technology within India.Tandem Defense LLC, which is a wholly owned subsidiary of Autonomous Power Corporation, Delaware (referred to as 'Powerus'), granted the license to Paras for Guardians Interceptor Technology. Through this agreement, Powerus provides Paras Defence an exclusive license to use the Licensed IP solely within India for the purpose of manufacturing and commercializing related Products domestically.
The licensed technology, Guardian-1 Interceptor, is a high-speed, battery-powered counter-drone system developed by Powerus specifically designed to combat low-cost aerial threats. As part of the agreement, Powerus has also appointed other parties responsible for the management of IP licenses, defence product manufacturing, and sales operations within India.
The terms of the licensing agreement between the two entities are summarized below:
| Particulars | Details |
|---|---|
| Parties Involved | Paras Defence and Space Technologies Limited (PARAS) and Tandem Defense LLC (Powerus). |
| License Scope | Exclusive, non-transferable, non-sublicensable use of the Licensed IP within India. |
| Agreement Duration | The term of the agreement is twelve months, renewable by mutual consent. |
| Transaction Status | The transaction is not a related party transaction. |
The parties confirmed that no shareholding exists between them and no relationship relating to promoters or promoter group companies was involved in entering into the agreement.
PARAS Stock Price Movement
Today, shares of Paras Defence and Space Technologies Limited edged higher to settle at ₹1289.05 after climbing 9.22% in post-market trading. The stock saw robust investor interest throughout the session, which concluded with a traded volume totaling 6,387,150 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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