Defence conglomerate Edge has acquired a majority stake in Estonia's Milrem Robotics as it seeks to develop capabilities in robotics and autonomous systems in line with the UAE's expanding manufacturing sector.
The Tallinn-based company — which specialises in the development of intelligent unmanned ground vehicles, robotic warfare, concept of operations and warfare analysis — will become a new entity under Edge's platforms and systems cluster, Edge said in a statement on Tuesday.
The companies did not disclose the value of the deal.
The transaction is “an investment in the future of Edge, which is laser-focused on the development of such capabilities across its multiple domains”, said Faisal Al Bannai, chairman of Edge Group.
The deal will allow both companies to reach their goals in “an increasingly diverse and fiercely competitive market place, to share technology and expertise and to provide Milrem with the necessary support to expand its resources and talent base for further international growth as part of Edge and to also contribute to the growth of Estonia’s sovereign defence industry,” he said.
The move comes as the UAE moves ahead with its Operation 300bn strategy, which seeks to increase the contribution of the local industrial sector to the country's gross domestic product to Dh300 billion ($81.68 billion) by 2031, from Dh133 billion in 2021.
In June 2022, the UAE's Ministry of industry and Advanced Technology, the Emirates Development Bank (EDB) and Edge Group signed an agreement to boost manufacturing in the defence sector.
Under the agreement, EDB will provide financing of up to Dh1 billion to accelerate the industrialisation of Edge’s offerings, while the ministry will support Edge to expand global exports of more than 40 domestically-manufactured products and services.
Edge said the deal to acquire a controlling stake in Milrem Robotics is the largest foreign investment in Estonia’s growing defence industry.
The investment will help the Estonian company to expand its workforce, step up production and grow its footprint internationally, while providing Edge with access to markets in Northern Europe and beyond, the statement said.
“There is great potential here for both companies, and our investment in Milrem will allow it to take advantage of Edge's considerable resources to offer our customers operating in perpetually changing operating environments a more robust portfolio of superior autonomous systems at competitive costs,” Mansour AlMulla, managing director and chief executive of Edge Group, said.
“A presence in Estonia also provides Edge with strategic access to Northern Europe, increasing valuable opportunities for us across the continent and further afield, and strengthens our position as a serious global player in this sector.”
Edge will have majority control of Milrem Robotics after the transaction, with other shareholders including German combat systems company Krauss Maffei-Wegmann, Milrem's founder and chief executive Kuldar Vaarsi, Estonian private investors and company employees.
Mr Varsi said: “Milrem Robotics carried out an intensive investment round aimed at finding ways to support further expansion, and Edge Group, which comprises 20 different … technology and defence entities across multiple domains, offered the best opportunity for us to realise our ambitions of further international growth, in terms of footprint, and the development of our industry-leading solutions.”
The Estonian company will continue working with Krauss-Maffei Wegmann, “whose expertise has been instrumental to Milrem Robotics’ work since acquiring a stake in 2021", he added.
Milrem Robotics, which was established in 2013 and employs about 200 people, will continue to be based in the Estonian capital Tallinn, according to the statement. It also operates offices in Finland, Sweden, the Netherlands and the US.
Its main products are the THEMIS and Multiscope unmanned ground vehicles, the Type-X unmanned combat vehicle and the MIFIK land vehicle autonomy package. The first two are intended to support dismounted soldiers, and for commercial purposes such as forestry and firefighting, respectively. The Type-X is a wingman for mechanised defence units.
The company's products have been sold to 16 countries, including the US, Spain, the Netherlands, Norway, France, Germany and the UK.
“The addition of Edge as a new majority owner will allow Milrem to increase production, hire new people, acquire new know-how and also significantly expand its product portfolio, thereby become a stronger company internationally,” said Riho Terras, chairman of the supervisory board of Milrem Robotics.
“This in turn allows the company to significantly and more efficiently contribute to the development of Estonia’s defence capability.”
Wonka
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Developer: EA Vancouver, EA Romania
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The five pillars of Islam
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
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Torque 700Nm @ 1,750rpm
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Company name: Dharma
Date started: 2018
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Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs
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Price, base / as tested: Dhxxx
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Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
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Killing of Qassem Suleimani
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The biog
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Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
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Rating: Four stars
Zayed Sustainability Prize
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
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Torque: 1,000Nm
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Torque: 480Nm, 670Nm, 870Nm
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Price: Exact regional pricing TBA
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Started: 2020
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Based: Dubai, UAE
Sector: Entertainment
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Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
