Emiratis to acquire 30% stake in Israeli security company

Israel’s Ministry of Defense must grant permission for the deal to move forward.

A major military technology firm in the United Arab Emirates is gearing up to purchase a large stake in an Israeli security company, illustrating the growing defense-focused ties between the UAE and the Jewish State.

The EDGE Group, an Emirati technology and defense conglomerate, is expected to pay more than $10 million for 30 percent of Israeli company Third Eye Systems, which manufactures smart cameras for detecting UAVs and drones.

The outline for the deal would see EDGE Group purchase the shares, and then the two companies establish a joint venture, according to a report from the Hebrew-language outlet Walla.

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#Israel News #Israel-UAE Cooperation
Comments
ronald singer 18:26 29.01.2025
Stupid to give away controlling shares!
Basil Belem 16:54 29.01.2025
Israeli companies always do this smh. Waze, NDS Group, Orbotech, and so many others being sold off.
Christine Miklosik 15:48 29.01.2025
I agree with Steven, Israel should hold more percentage.I mean it's all Israel's innovations and inventions to just give it away. Israel needs a better deal than that. Israel has to stop giving away y
steven l 15:04 29.01.2025
Why 51% & not 49%!
sherri nisly 14:46 29.01.2025
Bad idea in my opinion
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