Bremen-based Rheinmetall Electronics GmbH has acquired a further 11 percent stake in Bavarian software developer blackned GmbH via a share purchase agreement. With this acquisition, Rheinmetall aims to control 51 percent and thus the majority of blackned. Rheinmetall's Bremen-based subsidiary previously held a 40 percent stake in blackned.
The transaction is still subject to several conditions precedent and also requires the approval of the Bundeskartellamt (German Federal Competition Authority).
Founded in 2009 and headquartered in Heimertingen, Bavaria, blackned specializes in the development of software for the digitalization of the armed forces. The company currently has around 200 employees and is growing rapidly. By increasing its stake in blackned, Rheinmetall is underlining the importance of digitalization with modern IT architectures for the defense industry.
In December, Rheinmetall and blackned were jointly awarded a major contract in the area of digitalization of the Bundeswehr. The two companies will work together to integrate the IT systems of all vehicles and platforms of the land forces as part of the D-LBO project. Rheinmetall will manage around 730 million euros of the contract volume, while blackned will contribute around 470 million euros. The new technology will be integrated into more than 10.000 combat and support vehicles of the Bundeswehr by mid-2030..
Armin Papperger, Chairman of the Board of Management of Rheinmetall AG, said: "The digitalization of the armed forces is advancing, also internationally. We want to play a leading role in this area and are participating in corresponding projects, for example in Australia, the United Kingdom and Hungary. The fact that we are on the right track in digitalization and that we offer convincing solutions is demonstrated by our joint success in the large-scale D-LBO project for the Bundeswehr."