EDGE Group has formalized a new Joint Venture (JV) agreement with Spain’s Indra Sistemas (Indra), a world-leading information technology and defense systems company with a footprint in over 140 countries worldwide.
The agreement will see the new Abu Dhabi-based JV develop and manufacture next-generation radar systems in the UAE, opening a pipeline of orders for approximately 300 advanced radar solutions.
The company said that the new business will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
Faisal Al Bannai Chairman of Board EDGE
“We see tremendous value in building relationships that will spur growth and bring tangible benefits to all parties. Our new joint venture with Indra, as a global market leader in the field of advanced radar technologies, will enable us to combine the strengths of both companies to create an entity that will become a major industry player in this sector. We are confident that this strategic partnership will prove to be a highly successful one.”
The JV will focus on building a team of highly-qualified personnel in the UAE, particularly in sales and engineering roles, by leveraging local Emirati, as well as global talent, ensuring sustainable operational excellence and innovative output.
Marc Murtra, Chairman of Indra, stated that, “This agreement between the two companies can create one of the world’s leading players in the field of radar technology and is a step forward in Indra’s international expansion strategy. With strategic initiatives such as this, we are making decisive steps in key vectors of our Strategic vision 2024-2026: technological leadership, international growth and partnerships building.”
The JV will also place a strategic focus on the continued development of sophisticated technologies, innovation, and global market expansion by targeting untapped and fragmented non-NATO markets outside of the European Union. EDGE will bring its commercial strength and technology building blocks, while Indra will enhance the new company’s capabilities by transferring technology, and shifting some engineering, commercial, and manufacturing capabilities to the JV.
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