EDGE Secures Dominant Share in Milrem Robotics

The UAE’s EDGE Group PJSC (‘EDGE Group’ or ‘EDGE’), acclaimed as one of the globe’s foremost advanced technology and defense conglomerates, has declared its acquisition of a majority ownership in Estonia-based Milrem Robotics, recognized as Europe’s top innovator in robotics and autonomous systems. This transaction marks the most significant foreign investment in Estonia’s burgeoning defense sector and will integrate Milrem Robotics into EDGE as a fresh entity within its Platforms & Systems cluster, enhancing the group’s existing multi-domain proficiencies.

Founded in 2013, Milrem Robotics is dedicated to delivering pioneering robotic solutions tailored for demanding environments. It excels in crafting intelligent unmanned ground vehicles, combat robotics, Concept of Operations (CONOPS), and strategic level warfare assessments. Its flagship offerings include the THeMIS and Multiscope unmanned ground vehicles, the Type-X unmanned combat vehicle, and the MIFIK land vehicle autonomy package. The first two are designed to support dismounted troops and for commercial applications such as forestry and emergency firefighting, respectively. The Type-X serves as a wingman for mechanized defense forces.

H.E Faisal Al Bannai, Chairman of EDGE Group, remarked: “EDGE’s investment in Milrem Robotics, renowned for its excellence in robotics and autonomous systems, is fundamentally an investment in EDGE’s future, which is sharply focused on advancing such capabilities across its diverse domains. This venture will enable us to accomplish both companies’ visions and aspirations with agility in an increasingly varied and fiercely competitive landscape, to exchange technology and expertise, and to equip Milrem with the essential support to expand its resources and talent pool for further global advancement as a segment of EDGE, and to contribute to the elevation of Estonia’s sovereign defense industry.”

Milrem Robotics will remain headquartered in Tallinn, Estonia’s capital, while also managing offices in Finland, Sweden, the Netherlands, and the USA, employing around 200 proficient personnel.

Following the transaction, EDGE will possess majority control of Milrem Robotics. Other stakeholders include Krauss Maffei-Wegmann, company founder, CEO Kuldar Väärsi, and Estonian private investors, including the company’s employees as minority stakeholders.

Kuldar Väärsi, founder and CEO of Milrem Robotics, stated: “Milrem Robotics undertook a rigorous funding round aimed at identifying avenues to facilitate further expansion, and EDGE Group, comprising 20 distinct state-of-the-art technology and defense entities across multiple sectors, presented the most advantageous proposition for realizing our aspirations for global growth, in terms of presence, and the enhancement of our industry-leading solutions. The investment from EDGE into our enterprise is a significant endorsement of Milrem Robotics’ success and an encouraging affirmation of our development thus far, along with the innovations and technologies we have pioneered.

“I am also delighted that we can continue collaborating with our other strategic minority partner, Krauss-Maffei Wegmann, whose expertise has been invaluable to Milrem Robotics’ work since acquiring a stake in 2021. We anticipate a flourishing future together.”

The products developed by Milrem Robotics have been distributed to 16 nations, eight of which are NATO members: the United States, Estonia, Spain, the Netherlands, Norway, France, Germany, and the United Kingdom.

Mansour AlMulla, Managing Director & CEO of EDGE Group, also stated: “Today, EDGE stands as one of the world’s eminent advanced technology and defense collectives with a robust presence across four continents. There exists great potential for both entities, and our investment in Milrem will empower it to leverage EDGE’s extensive resources, offering our clients operating in ever-evolving environments a more formidable portfolio of superior autonomous systems at competitive pricing. Establishing a foothold in Estonia affords EDGE strategic access to Northern Europe, enhancing valuable prospects across the continent and beyond, and solidifying our status as a formidable global contender in this domain.”

The acquisition of a majority stake by EDGE is perceived as a powerful signal to global investors regarding the remarkable prospects now present in Estonia’s advanced technology and defense sectors.

General (ret) Riho Terras, Chairman of the Supervisory Board of Milrem Robotics, concluded: “With EDGE now as a new majority stakeholder, Milrem will be enabled to amplify production, onboard new personnel, acquire new expertise, and substantially broaden its product offerings, thus becoming a stronger international entity. This, in turn, permits the company to make a more significant and efficient contribution to the enhancement of Estonia’s defense capacity. EDGE is a preeminent global defense industry group with a vast reach and significant resources.”