Bridgepoint weighs $1bn sale of anti-drone group guarding World Cup sites

{"text":[[{"start":7.85,"text":"Bridgepoint is preparing to sell a drone-detection and jamming company whose work includes monitoring airspace during the World Cup, as it seeks to capitalise on surging demand for defence technology."}],[{"start":19.4,"text":"The private equity firm is exploring a sale of Danish tech group MyDefence, according to people familiar with the matter who said an adviser had been hired to prepare for an auction towards the end of the year."}],[{"start":30.5,"text":"The business could be valued at about $1bn based on the multiples attached to other companies in the sector, the people said, adding that its sales were poised to more than double this year. "}],[{"start":40.95,"text":"Several military contractors and buyout firms have previously signalled their interest in MyDefence to Bridgepoint, according to the people."}],[{"start":49.5,"text":"The company, which was founded by former Danish military officers and engineers in 2013, builds products that use radio-frequency detection and targeted electronic jamming to protect people and infrastructure against drones. "}],[{"start":63.55,"text":"Its products include the Pitbull, a jammer that can be worn by a soldier, and the Dobermann, which can be mounted on vehicles and boats. "}],[{"start":null,"text":"

"}],[{"start":72,"text":"The US Department of Homeland Security is working with MyDefence on the football World Cup that kicked off this week in the US, Mexico and Canada to monitor and protect critical infrastructure, public gathering areas and transportation corridors, according to the company. "}],[{"start":88.3,"text":"That includes tracking both authorised and potentially hostile drone activity."}],[{"start":93.5,"text":"The conflicts in Ukraine and the Middle East have propelled drones and anti-drone equipment to the forefront of modern-day warfare. They have also underlined the cost imbalance between cheap, unmanned attack aircraft such as Iran’s Shahed drones and the expensive air-defence missile systems, such as the US-made Patriot, that are used to shoot them down. "}],[{"start":114.85,"text":"Demand in the unmanned aerial vehicle space has surged among militaries, manufacturers and investors. Robin Radar Systems, a Dutch drone-detection equipment maker, is also working with an adviser to explore a sale for about $2bn. "}],[{"start":130.15,"text":"British defence start-up Cambridge Aerospace is raising new funds for its interceptor systems and Mercedes-Benz is set to partner with Munich-based Tytan Technologies to protect European critical infrastructure from hostile drones, the FT has reported."}],[{"start":145.5,"text":"Bridgepoint, which specialises in investing in mid-market companies, is raising a new flagship fund of about €7.5bn. "}],[{"start":154.25,"text":"It acquired a majority stake in MyDefence in 2024 and has helped finance an increase in production and research and development to expand its presence globally. "}],[{"start":164.3,"text":"The London-listed group has also bought related businesses, such as Comrod, a Norwegian maker of tactical communications and power products for the defence industry."}],[{"start":174.20000000000002,"text":"Bridgepoint and MyDefence declined to comment. Robin Radar could not immediately be reached for comment."}],[{"start":190.25000000000003,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1781421446_3891.mp3"}