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The UAE’s EDGE Group, one of many world’s main superior know-how and defence teams, has introduced the acquisition of a 50% stake in Brazilian good weapons and high-tech methods specialist, SIATT.
The acquisition deal was formally signed at SIATT’s headquarters within the metropolis of Sao Jose dos Campos and witnessed by His Excellency Faisal Al Bannai, Chairman of EDGE Group, and the senior management groups of each corporations.
The acquisition follows a cooperation settlement signed by each corporations in Rio de Janeiro in April this yr, and is a part of a subsequent co-development settlement signed between EDGE and the Brazilian Navy for superior long-range anti-ship missile know-how, as a part of the MANSUP nationwide anti-ship missile mission, for which SIATT is offering the steering, navigation, management and telemetry methods.
Mansour AlMulla, Managing Director & CEO of EDGE Group, stated: “EDGE is dedicated to collaborating with strategically vital trade gamers in Brazil, by investments or partnerships, with a purpose to develop superior defence capabilities and different associated applied sciences. As a part of our Latin America improvement roadmap, significantly within the Brazilian market, we’re embarking on the event and manufacture of the subsequent technology of high-performance and price-competitive good weapons and options. Along with SIATT, we purpose to change into related market gamers in excessive tech defence methods.”
Based in 2015, and primarily based within the metropolis of São José dos Campos, SIATT specialises within the integration of methods with excessive technological content material, which offers options to the calls for of the defence and aerospace sectors.
Rogerio Salvador, CEO and one of many founders of SIATT, added: “It is a proud second for SIATT as a regional chief within the subject of superior missile know-how. EDGE’s funding in our experience and our famend capabilities is testomony to the high-quality of our merchandise and methods. In flip, it would allow us to learn from EDGE’s scale and worldwide multi-domain expertise to collectively develop the subsequent technology of good weapons options for our respective Armed Forces, and different defence prospects. SIATT, as a Brazilian Strategic Defence Firm – EED, stays absolutely dedicated to contribute to nationwide sovereignty”
Hamad Al Marar, President – Weapons & Missiles at EDGE Group, additional added: “It is a crucial milestone and has been achieved by forging mutually helpful relationships and the help and imaginative and prescient of the management of the UAE and Brazil, who proceed to forge ever-closer defence ties by constructing impartial sovereign capabilities, and supporting financial development.
“Our acquisition of fifty% shareholding in SIATT is an ideal instance of this. It should allow us to mix experience within the improvement of good weapons and high-tech methods, each focus areas for EDGE, and to discover potential collaboration alternatives to reinforce applied sciences and capabilities within the UAE and Brazilian markets.”
Vice Admiral Marco Antonio Ismael Trovão de Oliveira of the Brazilian Navy concluded: “EDGE is demonstrating by concrete motion that it’s a severe associate and supporter of the Brazilian defence trade, and the event of nationwide capabilities throughout a number of domains. At this time’s announcement of the Group’s acquisition of a significant shareholding in SIATT will additional strengthen our mutual imaginative and prescient and goals of better safety and financial prosperity each right here and abroad.”
SIATT’s product portfolio contains clever weapons akin to missiles and guided munitions, and their integration onto plane, naval vessels, and tanks and different land automobiles. Moreover, SIATT additionally excels radars, sensors, and avionics methods applied sciences.
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