Edge Group, one of the global groups in the field of advanced technology and Defense, announced the acquisition of a 50% stake in “Siyat”, the Brazilian company specializing in smart weapons and advanced technological systems.
The acquisition deal was officially signed at the headquarters of the company “Siyat” in the city of Sao Jose dos Campos, in the presence of the chairman of the board of Directors of Edge Group Faisal Al-Bannai, and a number of senior management officials in both companies.
The acquisition follows a cooperation agreement signed by the two companies in Rio de Janeiro in April this year, and is part of a subsequent joint development agreement signed between Edge and the Brazilian navy for advanced long-range anti-ship missile technology, within the framework of the National Anti-Ship Missile Project MANSUP, to which the company “Siyat” provides guidance, navigation, control and telemetry systems.
Mansour Al Mulla, managing director and CEO of Edge Group, said: “Edge is committed to cooperating with strategically important actors in Brazil, through investments or partnerships, with the aim of developing advanced defense capabilities and other related technologies . And within the framework of our development map in Latin America, especially in the Brazilian market, we have begun to develop and manufacture the next generation of high-performance smart weapons and solutions at competitive prices. Through cooperation with Siyat, we aim to become important players in the market of high-tech defense systems”.
The company “Siyat”, founded in 2015 and headquartered in the city of Sao Jose dos Campos, specializes in the field of integration of advanced technological systems, and also provides solutions for the requirements of the defense and aviation sectors.
For his part, CEO and co-founder of Siyat Rogerio Salvador said, “this investment is a source of pride for Siyat, a regional leader in the field of advanced missile technology, as edge’s investment in our well-known expertise and capabilities is a irrefutable testimony to the high quality of our products and systems. In return, this investment will enable us to leverage edge’s global multi-domain expertise to develop the next generation of smart weapon solutions, ” he added.
