Swedish defence and security company Saab has received an order for an airborne surveillance system with a value of more than 4.5 billion kronor ($670 million), the company said Monday.

Shares were up more than 5 percent in midday trading.

However, the defence firm didn't say who the buyer was.

"Upon customer's request, no further information regarding the customer will be announced. The industry's nature is such that this type of information can not always be published", the company said in a statement.

The order concerns delivery of airborne early warning and control system, which comprises of a Saab 2000 aircraft equipped with an advanced radar system. The contract also includes ground equipment as well as logistics and support services.

"This contract can be seen as a further confirmation of our strong position in the world regarding not only the area of airborne surveillance but in systems integration and data fusion as well", said the company's chief executive officer Håkan Buskhe. "This surveillance system will provide the customer with improved solutions for defence and civil security."