Will the Canadian-Swedish GlobalEye replace NATO's 14 E-3 AWACS planes?

NATO has made a big decision to upgrade its eyes in the sky. It is rumored that the alliance has chosen the Swedish company Saab, working together with Canadian firm Bombardier, to build the GlobalEye aircraft. These new planes will replace the old fleet of 14 Boeing E-3 Airborne Warning and Control System planes that NATO has used for many years.