Emirati defense firm acquires 30 percent stake in top Israeli military supplier

Israel’s Thirdeye Systems develops AI-powered technology designed to detect drone threats  

News Desk  - The Cradle

Emirati defense firm EDGE is set to acquire a 30 percent stake in Israeli military supplier Thirdeye Systems, which develops AI-powered drone detecting systems. 

Thirdeye Systems announced the deal in a statement on 28 January. 

EDGE will also put down an extra $12 million into a new joint venture with Thirdeye Systems, which will be majority-owned by the Emirati company and tasked with developing and selling electro-optical object recognition systems to new regions and emerging markets. 

It will own 51 percent of the joint venture, while Thirdeye Systems will retain 43 percent, and an unidentified third party will hold six percent. 

“This technological and security partnership sends a strong message about the capabilities of our AI-driven products and their contribution to national security,” said Thirdeye Systems CEO Lior Segal. 

“Partnering with a globally recognized supplier like EDGE will help us showcase Thirdeye Systems’ technological advantages and further expand our footprint in additional international markets,” he added. 

The Israeli company’s drone-detecting systems are deployed by the Israeli military. Throughout the genocidal Israeli war that began after 7 October 2023, Tel Aviv faced a serious UAV threat from Lebanon’s Hezbollah and the Yemeni Armed Forces (YAF). 

Israel’s advanced systems failed to prevent sophisticated drone attacks by the resistance movements in many instances during the war. 

EDGE President and CFO Rodrigo Torres said that the new deal “reflects our confidence in Thirdeye Systems’ solutions, which provide a critical layer of protection in unmanned aerial vehicle detection.”

“We believe this collaboration would benefit both parties and accelerate the development of new products to enhance identification capabilities in the evolving modern warfare,” Torres added. 

Defense cooperation between the UAE and Israel has accelerated since the 2020 Abraham Accords, which saw the normalization of ties between the two countries during US President Donald Trump’s first term.

In 2023, the UAE and Israel unveiled their first jointly developed, unmanned naval vessel. 

Trump has vowed to use the recent ceasefire agreement in Gaza to accelerate a normalization agreement between Israel and other Arab states, namely Saudi Arabia.