Swarmer Secures $14.3M in Software Deals for UAVs with MB & Progress
Swarmer, Inc.'s subsidiary, Swarmer Estonia OÜ, amended its Master Supplier Agreement with Meta Bureau LLC (MB), reducing initial license fees to approximately $2.5 million and eliminating future software upgrade options. Concurrently, Swarmer Estonia entered a new Master Supplier Agreement with Progress TRW S.R.O. (Progress), securing an additional $1.4 million in initial license fees. The Progress MSA also includes an option for up to $10.4 million in additional software upgrades, effectively re-securing the upgrade potential previously removed from the MB agreement. In total, Swarmer secured approximately $3.9 million in initial lump-sum license fees and up to $10.4 million in potential upgrade fees for its proprietary UAV software.
Key Highlights
- Swarmer Estonia amended Master Supplier Agreement (A&R MB MSA) with Meta Bureau LLC.
- Initial lump-sum license fees under A&R MB MSA reduced to approximately $2.5 million.
- Option for additional software upgrades under A&R MB MSA was eliminated.
- Swarmer Estonia entered new Master Supplier Agreement (Progress MSA) with Progress TRW S.R.O.
- Progress MSA includes initial lump-sum license fees of approximately $1.4 million.
- Total initial lump-sum license fees from both agreements amount to approximately $3.9 million.
- Progress MSA provides for additional software upgrades up to approximately $10.4 million.
- Both agreements have an initial one-year term, automatically renewing.
Price Impact
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