New York : The US defence company that specialises in designing, developing, and deploying unmanned aerial and maritime systems, is set to merge with the publicly traded Aureus Greenway Holdings, which is backed by two of US President Donald Trump's sons.
Pak Army Signs Drone Deal With US Firm Linked To Trump's Sons: ReportBoth companies anticipate completing the merger in early October
A US drone company, called Powerus, has signed a deal with the Pakistani army that includes an initial drone-related order, the co-founder of the firm, Brett Velicovich, told Reuters on Wednesday.
While Velicovich did not provide the details of the memorandum of understanding, he said that the deal involved unmanned aerial systems.
"The goal would be a joint technology relationship, pairing best-in-breed technology from the US with best-in-breed technology from Pakistan," Velicovich said.
Now, the US defence company that specialises in designing, developing, and deploying unmanned aerial and maritime systems, is set to merge with the publicly traded Aureus Greenway Holdings, which is backed by two of US President Donald Trump's sons.
Both companies anticipate completing the merger in early October, according to the Reuters report.
According to US regulatory filings, Donald Trump Jr. and Eric Trump own a stake in Aureus through an investment fund called American Ventures.
The company's founder and chief executive Andrew Fox has said that Pakistan's private defence sector is "emerging" and not yet "mature", which leaves the US with more space for its firms.
However, he clarified that contracts were awarded on merit and that Trump's sons had "no involvement on the business side" of the company.
"I think, for many decades, the US government has been opposed to providing [drone] systems to countries like Pakistan while China has blanketly provided whatever the people here want", Velicovich said.
"But now we are seeing a sort of awakening of US policy, even outside of Pakistan, to share more of our drone systems", he added.
Pakistan's military said on Wednesday that Field Marshal Asim Munir met a Powerus delegation led by Velicovich and the two sides spoke about defence procurement, production and long-term capacity building.
In December last year, the United States approved a major arms deal worth $686 million to sell advanced technology and support for Pakistan's F-16 fighter jets.
The package included Link-16 systems, cryptographic equipment, avionics updates, training, and comprehensive logistical support, Dawn reported, citing a Defence Security Cooperation Agency (DSCA) letter to the US Congress.
Powerus has also signed a commercial contract worth approximately $22.3 million to supply counter-drone technology aimed at protecting oil and gas infrastructure in the Middle East.