Nearmap (ASX:NEA) & DroneShield (ASX:DRO) partner for launching new tech

3 min read | April 05, 2022 02:25 PM AEST | By Sukriti Nair

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Nearmap (ASX:NEA) & DroneShield (ASX:DRO) partner for launching new tech

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Highlights

Nearmap and DroneSheild join hands for DroneSentryC2TM software launch.

Common technology user base seems to be a pushing factor for the partnership.

While Nearmap shares are trading in red, DroneSheild share price is trading in green today (5 April 2022).

ASX-listed geospatial mapping company Nearmap Ltd (ASX:NEA) has announced its partnership with DroneShield Limited (ASX:DRO) today (5 April 2022). Drone shield is to launch an enhanced version of its DroneSentryC2TM command-and-control software, in partnership with location intelligence firm, Nearmap.

Post announcement on the ASX, NEA share was seen trading at AU$1.480 apiece today (5 April 2022) at 12:15 PM AEST down by 0.33% on previous close. At the same time DRO shares were trading at AU$0.215 each, about 4.8% higher than its yesterday’s close price.

Why is DroneShield collaborating with Nearmap?

Nearmap is one of the world’s largest ariel survey companies providing city-scale 3D content, artificial intelligence data sets, geospatial tools and high-resolution aerial imagery in its operational geographies namely Australia, New Zealand and North America. Nearmap uses its own patented camera systems and processing software to capture wide-scale urban areas several times each year, making current content instantly available on the cloud via web app or API integration.

Using this technology Nearmap helps thousands of its technology users in conducting virtual site visits for deep, data driven insights to take informed decisions and streamline operations and financial performance.

On the other hand, DroneShield facilitates its customers with an artificial intelligence-based platform for protection against drone threats. It offers counter-drone (or counter-UAS) solutions for electronic warfare and off-the-shelf products suitable to a variety of terrestrial, maritime or airborne platforms. It has a similar customer base to Nearmap including military and intelligence community, Government and law enforcement bodies along with critical infrastructure providers like airports, globally.

ASX announcement dated 5 April 2022

It will represent an additional revenue stream for Nearmap and is anticipated to ultimately have a positive effect on its financial accounts. While the value of expected sales is not quantifiable present the company expects it to be significant.

Management Commentary

According to Oleg Vornik, CEO, DroneShield the company’s differentiating factor is that it is both a sensor manufacturer and an integrator platform. Therefore, using its streamlined and standardised hardware/software bundle its user community gets an easy to deploy and run command and control software, will be critical, as more fixed and pop-up site users seek to deploy counter UAS products. As claimed by him, the technology is already validated via deployments from the US Air Force and Australian Army, along with other tier 1 end users globally.

As per Dr Rob Newman, CEO & MD, Nearmap:

Nearmap claims to be continuously driving innovation in the use of geo-spatial data and tools via harnessing location intelligence.

Bottom line

Nearmap believes that such technology can help organisations plan futuristic smart cities, support growth of greener spaces and assist recovery efforts post devastating natural disasters like the recent floods.

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