Mobilicom Limited (NASDAQ: MOB) is a provider of cybersecurity and advanced technology solutions for drones, robotics, and UAVs. Shares of the advanced technologies company are rallying 39% through early trading on Tuesday, February 21, 2023. Over the past three months, Mobilicom has seen average daily volume of 54,430 shares. However, volume of 17.79 million shares or dollar volume of around $38.78 million, has already exchanged hands through early trading.
Shares of Mobilicom are gaining after the company announced it has entered into a strategic partnership with Mistral, Inc., a Bethesda, Maryland-based provider of high-performance and innovative solutions to the U.S. Department of Defense (DOD) and other agencies. Under the strategic partnership, Mistral aims to integrate Mobilicom’s end-to-end solutions into DOD-related products and services. Mistral will also provide program management for U.S. government’s purchasing of Mobilicom’s solutions.
Mistral is a prime contractor for the U.S. DOD and provides advanced systems, technologies and products for use in the defense industry. Mistral has been in business for over 35 years and has served as a bridge between defense and law enforcement and state-of-the-art technologies and solutions.
Mobilicom sees the partnership as an initial in-road to the U.S. DOD, and could be the base to launch additional business with the DOD and the rest of the U.S. government in the years to come.
“Partnering with Mistral will accelerate Mobilicom’s market penetration with the U.S. defense industry, getting our field-proven high-performance end-to-end solutions where they are needed most—to U.S. troops and their allies,” stated Mobilicom’s VP of Sales, David Fagelson. “Mistral’s long-standing relationships with key decision makers and its expertise in military procurement processes are a key asset in our partnership. Based on our success with Tier-1 drone and autonomous systems manufacturers worldwide, as well as the Israel Ministry of Defense, we are very confident in our systems’ competitive position with the U.S. military.”
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