The UAE-owned Edge Group finalized a deal in São Paulo on Tuesday to secure a 51% share of Condor, based in Rio de Janeiro.
Known for its extensive array of non-lethal military and civil defense products, Condor operates globally in over 85 countries.
The company boasts the largest non-lethal technology (NTL) portfolio worldwide.
This includes more than 160 diverse items such as rubber bullets, smoke grenades, and facial recognition-equipped body cameras.
This move represents Edge’s second major investment in Brazil, reinforcing its aim to dominate the global security and defense sector while eyeing entry into critical markets like the United States.
The firm is currently negotiating with two additional Brazilian companies to potentially establish Brazil as a pivotal export hub for weaponry.
Launched in 2019, Edge has rapidly escalated its global presence. It achieved a 300% boost in exports, accumulated $5 billion in transactions, and secured a spot among the top 25 global defense firms.
The company’s ambition stretches to entering the top five in the industry.
Condor’s Strategic Merger
Hamad Al Marar, CEO of Edge Group, praises Brazil’s high-tech capabilities.
Despite Condor’s success, its location presents significant logistical hurdles, particularly concerning accessibility to Middle Eastern and African markets.
This partnership is anticipated to bridge these gaps and propel Condor’s market reach.
Carlos Erane de Aguiar, Condor’s founder and soon-to-be president, underscores the strategic essence of this merger.
He forecasts that this alliance will not only increase market shares in NTL sectors but also facilitate breakthroughs into vital areas, including the United States.
He highlights the promising future of the non-lethal weapons market, which is currently valued at $6 billion.
Aguiar reassures that Condor will maintain its role as a key national defense entity under Brazilian leadership.
This collaboration marks a unified effort towards continual innovation and expansion across Latin America, the United States, and other regions.
Internally, the UAE views Brazil as fertile terrain for acquiring technologically advanced enterprises, circumventing export barriers faced elsewhere.
Companies deem producing in Brazil beneficial due to the country’s lax regulations on technological independence compared to nations like France.