The United Arab Emirates’ defense concern Edge has acquired the majority of the shares in the Estonian robotics manufacturer Milrem Robotics. The deal represents a significant foreign investment in Estonia’s defense industry. Milram joins Edge as an entity within its platform and systems cluster.
Milrem is known for TheMIS UGV, a type robotic combat vehicle and the MIFIK ground vehicle autonomy package. The chairman of Edge Group, Faisal Al Banai, said that the investment in Milram was also an investment in Edge’s future. The carmaker manufacturer will remain headquartered in Tallinn and will continue to operate from its offices in Finland, Sweden and the Netherlands.
Edge will have control of Millram, while other shareholders include Kraus Maffei-Wegmann, Estonian private investors, founder and CEO Kuldar Väärsi and company employees.
Väärsi said: “Milrem Robotics has undertaken an intensive investment round aimed at finding ways to support further expansion, and the Edge Group, comprising 20 technology entities, offered the best opportunity for us to realize our ambitions for further international growth, in terms of footprint.”