# EDGE Group acquires Milrem Robotics: acquisition

Canonical ID: `f05096b3-e12d-482c-baa6-83ab355aac99`

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).

- **Structure:** majority stake
- **Status:** completed
- **Valuation:** undisclosed
- **Verification posture:** verified

## Parties

- **Acquirer:** EDGE Group _(off-registry)_
- **Acquired:** [Milrem Robotics](https://registry.deploy.report/companies/milrem-robotics.md)

## Timeline

- **Announced:** 2023-02-15

## Sources (1)

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


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