Philip the Arab
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United Arab Emirates state-owned conglomerate EDGE Group has agreed to purchase a majority controlling share in Milrem Robotics.
Milrem Robotics is a developer of robotics and autonomous systems. Its main products are the THeMIS, Multiscope crewless ground vehicles, the Type-X uncrewed combat vehicle, and the MIFIK land and vehicle autonomy package.
The first two are intended to support dismounted soldiers, and the Type-X is a wingman for mechanised defence units.
Following the majority stake acquisition by EDGE Group, Milrem Robotics will join the conglomeration of military and weaponry companies as a new entity within its Platform & Systems cluster.
The companies have not disclosed financial details and other aspects of the deal.
Mansour Al Mulla, managing director & CEO of EDGE Group, added: “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.”
Milrem Robotics’ products have been sold to 16 countries, eight of which are NATO members: the US, Estonia, Spain, the Netherlands, Norway, France, Germany, and the UK.
Kuldar Väärsi, founder and CEO of Milrem Robotics, added: “I am also pleased that we can continue working with our other strategic minority shareholder Krauss-Maffei Wegmann, whose expertise has been instrumental to Milrem Robotics’ work since acquiring a stake in 2021. We look forward to a prosperous future together.”
The latest deal follows the 24.9% acquisition of Milrem Robotics from Munich-based Krass-Maffei Wegmann.
@The SC @Ghostkiller
Milrem Robotics is a developer of robotics and autonomous systems. Its main products are the THeMIS, Multiscope crewless ground vehicles, the Type-X uncrewed combat vehicle, and the MIFIK land and vehicle autonomy package.
The first two are intended to support dismounted soldiers, and the Type-X is a wingman for mechanised defence units.
Following the majority stake acquisition by EDGE Group, Milrem Robotics will join the conglomeration of military and weaponry companies as a new entity within its Platform & Systems cluster.
The companies have not disclosed financial details and other aspects of the deal.
Mansour Al Mulla, managing director & CEO of EDGE Group, added: “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.”
Milrem Robotics’ products have been sold to 16 countries, eight of which are NATO members: the US, Estonia, Spain, the Netherlands, Norway, France, Germany, and the UK.
Kuldar Väärsi, founder and CEO of Milrem Robotics, added: “I am also pleased that we can continue working with our other strategic minority shareholder Krauss-Maffei Wegmann, whose expertise has been instrumental to Milrem Robotics’ work since acquiring a stake in 2021. We look forward to a prosperous future together.”
The latest deal follows the 24.9% acquisition of Milrem Robotics from Munich-based Krass-Maffei Wegmann.
@The SC @Ghostkiller
