EDGE Group, an advanced technology and defence group, acquired a majority stake in Estonia-based Milrem Robotics, a robotics and autonomous system developer.
This transaction is considered to be “the largest foreign investment in Estonia’s growing defence industry,” according to the press release and will see Milrem Robotics join EDGE as a new entity within its platforms and systems cluster, complementing the group’s existing multi-domain capabilities.
Founded in 2013, Milrem Robotics’ mission is to provide innovative robotic solutions for challenging environments. It specialises in the development of intelligent unmanned ground vehicles, robotic warfare solutions, Concept of Operations (CONOPS) and doctrine-level warfare analysis.
“EDGE’s investment in Milrem Robotics, a company with an established reputation as a leader in the fields of robotics and autonomous systems, is also an investment in the future of EDGE, which is laser-focused on the development of such capabilities across its multiple domains. It will allow us to realise both companies’ objectives and ambitions with agility in an increasingly diverse and fiercely competitive marketplace, 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,” Faisal Al Bannai, Chairman of EDGE Group, said.
After the transaction, EDGE will have majority control of Milrem Robotics, other shareholders include Krauss Maffei-Wegmann, company founder, CEO Kuldar Väärsi, and Estonian private investors, among them company employees as minority shareholders.
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