Emirati state weapons contractor invests in Israeli defense supplier

Middle East News
28-01-2025 | 11:00
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Emirati state weapons contractor invests in Israeli defense supplier
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Emirati state weapons contractor invests in Israeli defense supplier

Thirdeye Systems, an Israeli military supplier, said it has sold a 30% stake to Emirati state-owned defense conglomerate EDGE for $10 million, in a rare public investment by an Emirati firm in Israel since the Gaza war began 15 months ago.

EDGE will also put an additional $12 million into a new, majority EDGE-owned joint venture with Thirdeye Systems, the Israeli company said on Monday.

A third party, whose identity was not disclosed, will hold 6% with Thirdeye Systems owning the remaining 43% of the JV.

EDGE's investment will help Thirdeye Systems expand into new markets, Chief Executive Lior Segal said in a statement.

EDGE President Rodrigo Torres said the deal was of mutual benefit and would accelerate the development of new systems.

Many Emirati companies have shied away from openly doing business with Israeli firms over the past 15 months, with the war and Israel deeply unpopular throughout the Arab world.


Reuters
 

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