UAE's EDGE acquires 50 percent stake in Brazil's SIATT

The UAE’s EDGE Group, one of the world’s leading advanced technology and defence 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 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.

Rogerio Salvador, CEO and one of the founders of SIATT, said, “This is a proud moment for SIATT as a regional leader in the field of advanced missile technology. EDGE’s investment in our expertise and our renowned capabilities is a testament to the high quality of our products and systems. In turn, it 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 defence customers. SIATT, as a Brazilian Strategic Defence Company – EED, remains fully committed to contributing to national sovereignty.”

Hamad Al Marar, President - Weapons & Missiles at EDGE Group, stated, “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.

“Our acquisition of 50% shareholding in SIATT is a perfect example of this. It will enable us 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.”

Vice Admiral Marco Antonio Ismael Trovão de Oliveira of the Brazilian Navy said, “EDGE is demonstrating through concrete action that it is a serious partner and supporter of the Brazilian defence industry, and the development of national capabilities across multiple domains. Today’s announcement of the Group’s acquisition of a major shareholding in SIATT will further strengthen our mutual vision and objectives of greater security and economic prosperity both here and overseas.”

SIATT’s product portfolio includes intelligent weapons such as missiles and guided munitions, and their integration onto aircraft, naval vessels, tanks and other land vehicles. Additionally, SIATT also excels in radars, sensors, and avionics systems technologies.
 

Source: Wam