The Emirati defense and technology conglomerate EDGE Group has acquired a 30% stake in the Israeli defense firm ThirdEye Systems Ltd., investing $10 million. This move underscores the growing defense cooperation between Israel and the United Arab Emirates, despite recent public criticisms by Abu Dhabi of Israeli military actions.
EDGE Group, which includes over 35 companies and ranks as one of the top three global suppliers of precision-guided munitions, has joined forces with ThirdEye, a company specializing in electro-optical object recognition systems. The two companies will create a joint venture, with an additional $12 million investment to develop and market cutting-edge technologies for defense applications, particularly focusing on systems for drones used by the Israeli military.
ThirdEye Systems is publicly traded on the Tel Aviv Stock Exchange and focuses on object recognition technology, with products used by the Israeli military. The collaboration with EDGE Group will further expand their technological offerings in the defense sector.
Despite public Emirati criticisms of certain Israeli government actions, such as military strikes in Gaza and Lebanon, economic ties between Israel and the UAE have remained strong. In 2023, bilateral trade reached $2.95 billion, with diamonds being the largest export from the UAE to Israel and vice versa.
The UAE and Israel have strengthened their defense cooperation since the 2020 Abraham Accords, with Israel agreeing to sell the SPYDER air defense system to the UAE. EDGE Group’s recent acquisition and its focus on defense technologies, including space capabilities, signal further integration of the two countries’ defense sectors.
