Rheinmetall AG (XTRA:RHM) signed an agreement to acquire an unknown majority stake in Resonant Holdings (Pty) Ltd on August 2, 2024. Resonant Holdings employs around 150 people. Following the signing of the agreement Rheinmetall and Resonant have formed a new joint venture Rheinmetall Resonant South Africa where Rheinmetall Waffe Munition GmbH will hold 51% stake and the remaining 49% stake will be held by Resonant.

The transaction and the final company name are still subject to customary regulatory approvals.