Happy Friday! Today, we talk about a new defense deal in Brazil. The French frown upon Brazil’s cash-and-carry model. And the arrival of the University of Oxford to Rio de Janeiro.
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UAE group buys Brazilian producer of smart weapons
The EDGE Group, a United Arab Emirates-based leader in advanced technology and defense, announced Friday the acquisition of a 50 percent stake in SIATT, a Brazilian specialist in smart weapons and high-tech systems.
State of play. The deal follows a cooperation agreement signed by the two companies during a major industry trade show in April. It is also part of a subsequent co-development agreement signed by EDGE and the Brazilian Navy for advanced long-range anti-ship missile technology — as part of the MANSUP national anti-ship missile project, for which SIATT is providing the guidance, navigation, control, and telemetry systems.
- The goal is to develop a missile with a range of 200 kilometers to compete with French giant MDBA, currently the sector’s market leader.
Context. SIATT specializes in the integration of systems with...