In a rare public move, the Israeli military technology company Third Eye Systems has announced the sale of 30% of its shares to the UAE’s state-owned defense firm EDGE, for $10 million. This marks a significant escalation in Abu Dhabi’s military and security cooperation with the Israeli occupation state.
Additionally, EDGE has committed to investing another $12 million in a new joint venture, where it will hold a majority stake alongside Third Eye Systems. A third undisclosed party has secured a 6% stake, while Third Eye Systems retains 43% ownership in the new entity.
Strengthening Israeli Military Expansion
Lior Segal, CEO of Third Eye Systems, claimed in a statement that EDGE’s investment will enable the company to expand into new markets. Meanwhile, Rodrigo Torres, a senior executive at EDGE, described the deal as mutually beneficial and an opportunity to accelerate the development of new military systems.
UAE-Israel Relations and Ongoing Occupation
The UAE normalized ties with the Israeli occupation in 2020 as part of the controversial Abraham Accords, triggering a wave of economic and military agreements between the two entities. However, public engagement has since diminished due to Israel’s ongoing aggression against the Palestinian people.
Despite Abu Dhabi’s verbal criticisms of Israel’s brutal military campaign in Gaza, its strategic relations with Tel Aviv remain intact, raising questions about the UAE’s true stance on Palestinian resistance.
Supporting Israel’s Military and Surveillance Sector
Third Eye Systems specializes in developing surveillance and military detection technology, including drone-detection systems actively used by the Israeli occupation forces and NATO members. The company’s stock value has surged in the past 15 months, fueled by lucrative contracts supplying advanced military equipment to the Israeli army.
Since the start of the war on Gaza, Third Eye Systems’ stock price has skyrocketed by 51%, reaching 333.8 shekels ($92.29), according to data from the London Stock Exchange Group and Reuters calculations.
UAE’s Growing Military Ties with Israel
EDGE, the largest state-owned arms manufacturer in the UAE, has been deepening its military collaboration with Israel. In 2021, the company announced a partnership with Israel Aerospace Industries, another state-owned firm, to develop unmanned naval vessels capable of submarine detection and reconnaissance missions.
While the UAE presents itself as a neutral broker in the region, its continuous military cooperation with the Israeli occupation contradicts its stated position on Palestinian rights.
