The UAE’s EDGE Group has announced the acquisition of a 50% stake in Brazilian smart weapons and high-tech systems specialist, SIATT, with the seal signed at the Brazilian company’s headquarters in the city of Sao Jose dos Campos.
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.
EDGE Group has made a series of announcements on collborations with Brazilian companies or provision of systems to the country’s military, in line with an extensive investment plan into the Americas, as well as eastern Europe. On 27 September the Group signed a strategic partnership with the Brazilian Marine Corps, and in August concluded an agreement with the Department of Aerospace Science and Technology of the Brazilian Air Force
Mansour Al Mulla, managing director & CEO of EDGE Group, said: "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 defence systems.”
Founded in 2015, and based in the city of São José dos Campos, SIATT specialises in the integration of systems with high technological content, which provides solutions to the demands of the defence and aerospace sectors.
Hamad al Marar, president - Weapons & Missiles at EDGE Group, further added: “This is a critical milestone and has been achieved by forging mutually beneficial relationships and the support and vision of the leadership of the UAE and Brazil, who continue to forge ever-closer defence ties by building independent sovereign capabilities and supporting economic growth.”
SIATT’s product portfolio includes intelligent weapons such as missiles and guided munitions, and their integration onto aircraft, naval vessels, and tanks and other land vehicles. Additionally, SIATT also specializes in radars, sensors, and avionics systems technologies.
South and Central America investment
Overall corporate deals in South and Central America have dipped -25% year on year, although Brazil remains the largest location of inward investment, with some 9,557 recorded in the past three months. The next largest market for deals is Argentina, with 1,742 recorded deals, followed by Chile, with 1,700.
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