Edge deepens partnerships home and abroad, fresh investments from Investcorp and Dubizzle, and more pharma localization

Edge is taking its non-lethal defense push deeper into Europe

State defense firm Edge is back at it, this time with a new Hungary-based JV with 4iG Space and Defense Technologies, focusing on the development of non-lethal defense systems like ammunition and smart defense tech, it said in a press release. The two sides inked a preliminary agreement through Edge subsidiary Condor, building on an MoU from last year. They also plan to set up a regional testing and expertise center serving military, law enforcement, and public organizations in Europe.

We also have more details about a planned JV with Italian aerospace and defense company Leonardo focused on advanced defense sensors and systems, Wam reports. The JV will develop and manufacture products for Leonardo’s M-346 trainer aircraft and other defense products, targeting customers in Europe and international markets. Edge says the JV has a potential pipeline of more than EUR 4 bn over the next five years.

Refresher: The two firms are also building a tech center in Abu Dhabi, and had been planning an Abu Dhabi-based JV focused on developing defense systems including sensors, integration systems, and platforms for both UAE and international clients.

PLUS- It finalized plans for a UAE-based JV supplying remote weapon systems to the UAE and other markets with Spain’s EM&E Group, Wam reports. The JV — whose commercial pipeline is now valued at USD 1.7 bn, up from USD 1.5 bn — is expected to be operational in 4Q.

Edge’s Europe ties are growing deeper: Edge agreed to establish two JVs with French aerospace and defense firm Safran on weapons, munitions, and launch systems for unmanned aerial vehicles earlier this week. It has also recently established its European HQ in Paris as the UAE’s investment in its defense sector gains momentum.

InvestCorp is backing Metra

Global alternative asset manager Investcorp acquired a strategic stake in UAE-based Metra, marking the first time the tech and IT distributor has brought in an outside investor, according to a press release. Investcorp says the investment gives it exposure to some of the fastest-growing corners of enterprise technology, including AI, cybersecurity, data centers, computing devices, and digital marketplaces. It forms Investcorp’s fourth investment through its Saudi Pre-IPO Growth fund.

Who’s Metra? The family-owned distributor recorded over USD 1 bn in sales last year and has distributor partnerships with some 40 global IT brands, including Cisco, Dell, HP, and Lenovo. The GCC market, especially the UAE and saudi, serves as its main revenue engine, accounting for 70% of top-line inflows.

Dubizzle backs UAE rent-rewards startup Tern

Classifieds group Dubizzle acquired a strategic stake in Tern, a platform that lets UAE tenants pay rent by credit card and earn rewards redeemable on travel, lifestyle, and retail, according to a press release (pdf). Tern launched operations in May 2025 and says it has processed over AED 150 mn in annualized rent payments since.

Tern’s reward features will be integrated into Dubizzle and Bayut’s platforms as the competition between UAE proptech players to own the post-search layer of the rental journey — spanning payments, rewards, and property management — heats up.

Another pharma localization agreement lands in Abu Dhabi

More drugs are set to be localized at home: UAE-based pharma manufacturer Adcan Pharma partnered with Spanish pharma firm Galencium to manufacture and batch release some of the latter’s products in the UAE, according to a press release. The specific products were undisclosed, but the companies say the agreement is intended to improve medicine availability and reduce supply-chain risks.

Why it matters: The agreement adds to a broader push to build domestic drug manufacturing capacity, after Adcan inked a similar agreement with Italian pharma and diagnostics company Menarini earlier this week. LifePharma also recently partnered with AD Ports on a AED 700 mn manufacturing platform in Kezad, while Novo Nordisk signed an MoU with the Emirates Drug Establishment covering manufacturing, supply-chain resilience, talent development, and research collaboration.