State-backed defence conglomerate EDGE Group has acquired a 70% stake in Abu Dhabi-based GRADEONE, a provider of military hardware, ammunition and pyrotechnics.

The majority stake is the second investment announced by EDGE this week. It is expected to expand the company’s defence manufacturing, communications and trading capabilities, according to a statement on Friday. 

GRADEONE, which is also into defence trading and services and provides various solutions to the military and defence sectors, will join EDGE under the company’s “trading and mission” cluster. 

“Incorporating GRADEONE into the Group is an advantageous and logical decision for both companies, allowing EDGE to further perfect our solutions, both in military and safety service domains,” said Mansour AlMulla, Managing Director and CEO of EDGE. 

Just this week, EDGE acquired a majority stake in Estonia-based Milrem Robotics, a developer of robotics and autonomous systems that are sold to NATO member countries. 

(Reporting by Cleofe Maceda; editing by Seban Scaria) 

Cleofe.maceda@lseg.com