UAE’s EDGE Acquires Stake in Israeli Firm To Boost Drone Detection Technology
Abu Dhabi-based defense technology conglomerate EDGE has agreed to invest $10 million to acquire a 30% stake in Israel’s Thirdeye Systems, a company specializing in AI-powered electro-optical systems for detecting drones and unmanned aerial vehicles. The agreement, announced Tuesday, also includes an additional $12 million investment by EDGE to establish a joint venture for further developing and marketing Thirdeye’s technology worldwide. The deal is pending approval from Israel’s Defense Ministry.
Under the joint venture’s structure, EDGE will hold a controlling 51% share, Thirdeye will own 43%, and a third party will take the remaining 6%. The collaboration comes at a time when drone threats have become a significant security concern, particularly for Israel, which has struggled to counter aerial threats from Hamas and Hezbollah during ongoing conflicts.
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Founded in 2010 and based in Netanya, Thirdeye develops automated scanning systems that use thermal and sensor imaging to detect fast-evolving battlefield threats. Its technology is currently in use by the Israeli military and several NATO defense organizations. Thirdeye’s stock surged 26% on the Tel Aviv Stock Exchange following the announcement, bringing its market capitalization to $23 million.
EDGE, established in 2019, is a major player in defense and technology with 25 subsidiaries operating across 140 countries. The company specializes in unmanned systems, cybersecurity, electronic warfare, and precision weapons. It has an order backlog valued at $12.8 billion. Since the signing of the Abraham Accords in 2020, Israeli and Emirati defense firms have pursued multiple collaborations, including EDGE’s 2021 partnership with Israel Aerospace Industries to develop an advanced drone defense system.
Thirdeye CEO Lior Segal described the partnership as a “significant opportunity” to enhance the firm’s technological footprint. EDGE Group President and CFO Rodrigo Torres added, “This transaction reflects our confidence in Thirdeye Systems’ solutions, which provide a critical layer of protection in unmanned aerial vehicle detection.”
