Sao Paulo, Brazil — The UAE’s EDGE Group, one of the world’s leading advanced technology and defense groups, has announced the acquisition of a 50 percent stake in Brazilian smart weapons and high-tech systems specialist, SIATT.
The acquisition deal was officially signed at SIATT’s headquarters in the city of Sao Jose dos Campos and witnessed by Faisal Al Bannai, Chairman of EDGE Group, and the senior leadership teams of both companies.
The acquisition follows a cooperation agreement signed by both companies in Rio de Janeiro in April this year, and is part of a subsequent co-development agreement signed between EDGE and the Brazilian Navy for advanced long-range anti-ship missile technology, as part of the MANSUP national anti-ship missile project, for which SIATT is providing the guidance, navigation, control and telemetry systems.
Mansour AlMulla, Managing Director and CEO of EDGE Group, said, “EDGE is committed to collaborating with strategically important industry players in Brazil, through investments or partnerships, in order to develop advanced defence capabilities and other related technologies.”
“As part of our Latin America development roadmap, particularly in the Brazilian market, we are embarking on the development and manufacture of the next generation of high-performance and price-competitive smart weapons and solutions. Together with SIATT, we aim to become relevant market players in high-tech defense systems,” he said.
Founded in 2015, and based in the city of São José dos Campos, SIATT specializes in the integration of systems with high technological content, which provides solutions to the demands of the defense and aerospace sectors.
Rogerio Salvador, CEO and one of the founders of SIATT, said, “The deal will enable us to benefit from EDGE’s scale and international multi-domain experience to jointly develop the next generation of smart weapons solutions for our respective Armed Forces, and other defense customers.”
Hamad Al Marar, President – Weapons & Missiles at EDGE Group, stated, the agreement will enable EDGE to combine expertise in the development of smart weapons and high-tech systems, both focus areas for EDGE, and to explore potential collaboration opportunities to enhance technologies and capabilities in the UAE and Brazilian markets.