Watan-The United Arab Emirates has deepened its security relationship with Israel through a significant financial investment, solidifying the public alliance between Abu Dhabi and Tel Aviv while disregarding Israel’s ongoing war against Palestinians.
Hebrew media revealed that the Emirati defense company EDGE has purchased a 30% stake in the Israeli security firm Thirdeye Systems for $10.3 million.
According to the Hebrew news site Walla News, Thirdeye Systems specializes in manufacturing surveillance cameras designed to detect drones. The Israeli Ministry of Defense has approved the deal, indicating further advancement in UAE-Israel security cooperation.
Meanwhile, Reuters reported that Thirdeye Systems, an Israeli military supplier, confirmed the sale of 30% of its shares to the UAE’s state-owned defense firm EDGE for $10 million. This marks a rare public investment by an Emirati company in Israel since the Gaza war began 15 months ago.
Under the agreement, EDGE will inject an additional $12 million into a new joint venture, where it will hold the majority stake alongside Thirdeye Systems. A third undisclosed party will own 6%, while Thirdeye Systems will retain 43% of the venture.
Thirdeye Systems’ CEO Lior Segal stated that EDGE’s investment will help the company expand into new markets. Rodrigo Torres, the chairman of EDGE, described the deal as mutually beneficial, saying it would accelerate the development of new security systems.
UAE’s Cautious Approach Amid Growing Arab Opposition to Israel
Reuters noted that many Emirati companies have avoided public business dealings with Israeli firms over the past 15 months due to the war, which has increased Israel’s isolation in the Arab world.
The UAE formally established diplomatic relations with Israel in 2020, leading to a surge in business between the two nations. However, this public economic activity slowed following the outbreak of the war in Gaza.
Although Abu Dhabi has criticized Israel’s military operations in Gaza in official statements, it has maintained its ties with Tel Aviv.
Thirdeye Systems and Rising Military Contracts
Thirdeye Systems, which develops drone detection technology, supplies the Israeli military as well as some NATO members.
Its stock price has surged over the past 15 months, benefiting from new military contracts with the Israeli army. Since the start of the war, the company’s stock has risen 51%, reaching 333.8 Israeli shekels ($92.29), according to LSEG data and Reuters calculations.
EDGE, the UAE’s largest arms manufacturer, is a government-owned entity. In 2021, it announced a joint development project with Israel Aerospace Industries (IAI) to produce unmanned naval vessels capable of submarine detection missions.
Mohammed bin Zayed Hosts Former Israeli PM in Abu Dhabi
Meanwhile, Israeli media reported that UAE President Mohammed bin Zayed hosted former Israeli Prime Minister Naftali Bennett in Abu Dhabi earlier this week.
According to Ynet, the meeting took place at the presidential palace in Abu Dhabi and lasted approximately three hours. However, neither Bennett nor the UAE has publicly confirmed the meeting.
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