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06 November 2019
TECHNOLOGY

Abu Dhabi plans to merge defence and technology companies

The new holding firm called EDGE will put 25 companies under its umbrella, including businesses that were once under Emirates Defence Industries Company, Emirates Advanced Investments Group and Tawazun Holding.

ABU DHABI SKYLINE/BLOOMBERG


Abu Dhabi has merged its defence and technology firms creating EDGE, one of the biggest defence groups in the Middle East.

EDGE is set to implement advanced technologies such as autonomous capabilities, cyber-physical systems as well as the internet of things, advanced propulsion systems, and robotics and smart materials, with a focus on artificial intelligence across all its products and services.

HE Faisal Al Bannai, the CEO and Managing Director of EDGE, said, “EDGE will invest extensively across R&D, working closely with front-line operators to design and deploy practical solutions that address real world challenges.” 

Home to around six per cent of global oil reserves, Abu Dhabi, is stepping up efforts to consolidate its entities as the emirate adapts to lower oil prices. It has combined banks and sovereign wealth funds as well as joined 11 entities, including ports and airports, under Abu Dhabi Development Holding Company.


RELATED STORIES: TAWAZUN HOLDING EMIRATES DEFENCE INDUSTRIES COMPANY EMIRATES ADVANCED INVESTMENTS GROUP EDGE


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