Acquisition

EDGE Group acquires Milrem Robotics

EDGE Group (UAE defense conglomerate) acquired a majority stake in Milrem Robotics, Europe's leading UGV maker (THeMIS, Type-X), announced February 2023 around IDEX - the largest foreign investment in Estonia's defense industry. Other shareholders (incl. KMW, founder/CEO Kuldar Vaarsi, employees) retained holdings; stake percentage and valuation not disclosed. Completed February 2023 (exact close date not published).

majority stake · Completed · Undisclosed · verified

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Parties

Acquirer: EDGE Group off-registry
Acquired: Milrem Robotics

Timeline

Announced: 2023-02-15

Sources (1)

https://milremrobotics.com/edge-acquires-majority-stake-in-milrem-robotics-europes-leading-developer-of-robotics-and-autonomous-systems/

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