Thirdeye Systems, an Israeli supplier of military technology, announced it has sold a 30% stake to the UAE's state-owned defense conglomerate EDGE for $10 million, Reuters reported on Tuesday. The deal marks a rare public investment by an Emirati firm in Israel since the Gaza conflict began 15 months ago. Additionally, EDGE will invest $12 million into a new joint venture (JV) with Thirdeye Systems, which will be majority-owned by EDGE, the Israeli company said. The joint venture will see Thirdeye Systems holding a 43% stake, while an undisclosed third party will own the remaining 6%. EDGE’s investment will support Thirdeye Systems in expanding into new markets, according to the company’s CEO, Lior Segal, who said in a statement, "EDGE’s investment will help Thirdeye Systems expand into new markets." EDGE President Rodrigo Torres highlighted the collaboration’s benefits, stating it would "accelerate the development of new systems." Related articles: Syria’s new President to visit UAE, Turkey UAE confirms death penalty for 3 murderers of Rabbi Zvi Kogan Murderers of Chabad emissary in UAE sentenced to death UAE President discusses Gaza ceasefire with Trump The UAE formally established diplomatic ties with Israel in 2020 as part of the Abraham Accords, leading to a surge in business collaboration. However, the relationship has cooled publicly since the onset of the Gaza war. EDGE, the UAE’s largest arms manufacturer, is government-owned. In 2021, it announced a partnership with Israel Aerospace Industries to jointly develop unmanned vessels capable of tasks such as submarine detection.
