- Enterprise Estonia is showcasing 12 Estonian Companies at IDEX 2023.
- UAE Defence Conglomerate Edge acquired a majority stake in Estonia’s Milrem Robotics, elevating autonomous systems capabilities.
ABU DHABI, UAE, Feb. 22, 2023 /PRNewswire/ — Continuing its mission to achieve the long-term strategic goals of the Estonian economy and facilitate the process of Estonia becoming one of the most competitive countries in the world, Enterprise Estonia, the state agency responsible for promoting Estonian businesses, is currently showcasing 12 Estonian companies at the International Defence Exhibition (IDEX) 2023. Also participating in the exhibition is Milrem Robotics, which was recently acquired by UAE-based defence conglomerate Edge.
IDEX, the world’s most important tri-service defence exhibition, is taking place until February 24 at the Abu Dhabi National Exhibition Centre, marking its 30th anniversary. As part of its continuing mission to facilitate the process of Estonia becoming one of the most competitive countries in the world, Enterprise Estonia is introducing Estonia as an able and willing partner in the defence industry.
Milrem Robotics is renowned for its accomplishments in the defence sector, specialising in the development of intelligent unmanned ground vehicles, robotic warfare, concept of operations, and warfare analysis. The Tallinn-based company will become a new entity under Edge’s platforms and systems cluster following Edge’s acquisition of a majority stake in Milrem Robotics. The investment will help the Estonian company expand its workforce, step up production, and grow its footprint internationally while providing Edge with access to markets in Northern Europe and beyond.
The acquisition of a majority stake in Milrem Robotics by Edge is a visionary investment in the future of the UAE-based defence conglomerate. Edge has a singular focus on the development of cutting-edge capabilities across its multiple domains, making this transaction a strategic move to further enhance its expertise in robotics and autonomous systems.
The Estonian Defence and Aerospace Industry Association is accompanying the participating companies at IDEX, aiming to create better opportunities for member defence and security companies, as well as contributing to the economic development of Estonia. The association is highlighting companies such as Marduk, DefSecIntel, and Threod Systems, which specialise in UAVs, security and surveillance solutions, and unmanned aircraft systems and subsystems for intelligence collection and surveillance tasks, respectively.
The addition of Edge as a new majority owner will allow Milrem to increase production, hire new people, acquire new know-how, and significantly expand its product portfolio, thereby becoming a stronger company internationally. The deal will further propagate Estonian innovation in the defence industry, which is contributing to the growth of Estonia’s sovereign defence industry.
To learn more about Enterprise Estonia, the participating Estonian companies, or the Estonian Defence and Aerospace Industry Association, visit stand 10-D06 during IDEX or https://eas.ee/en/.
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SOURCE Enterprise Estonia