LMT has become partner in European defense project iMugs

  • 2020-06-25
  • LETA/TBT Staff

RIGA - Latvian mobile operator Latvijas Mobilais Telefons (LMT) has become a partner in iMugs (integrated Modular Unmanned Ground System), a European defense industry development project, LETA learned from the company.

LMT said that the consortium joins 14 unmanned, cyber security, sensor and other innovative solutions developers from Latvia, Estonia, Finland, Germany, Belgium, France and Spain.

Participation in European research and development projects allows LMT to participate in development of European innovation projects, create new, innovative technology projects for exports, cooperate and develop partnership with international companies.

"Today, cyber security solutions are as important defense aspect as physical state borders," said LMT president Juris Binde.

Defense Minister Artis Pabriks (For Development) said that Latvia's participation in the project will promote defense and security industry cooperation with leading military industry companies, and will allow the National Armed Forces to cooperate in development of innovative technologies, testing and adapting them for Latvia's needs.

As reported, LMT in 2019 generated EUR 186.099 million in turnover, up 6.4 percent from a year ago, while the company's profit rose 9.3 percent to EUR 30.566 million.

LMT was established in January 1992 and its share capital is EUR 817,000. Sonera Holding and Telia Company each own 24.5 percent of LMT shares, 23 percent of the shares belong to TET and Latvian State Radio and Television Center each, while Latvian Public Assets Manager Possessor owns 5 percent of LMT shares.