Mubadala Development, Tawazun and Emirates Advanced Investments will explore a merger of their defence services businesses, the companies said today in a statement.

“A memorandum of understanding [MoU] expressing ... intent to explore the synergy opportunities that could be created by the unification of their defense services businesses [was] signed at the International Exhibition for Security and National Resilience [ISNR] in Abu Dhabi” and “will form the basis of discussions regarding the creation of a single integrated Abu Dhabi-based defence services platform”, the statement said.

The merger could help to “accelerate the development of technological capabilities and drive additional employment opportunities for UAE citizens”, it said.

Homaid Al Shemmari, the chief executive of Aerospace and Engineering Services at Mubadala, said: “Tawazun, Mubadala and Emirates Advanced Investments currently manage a range of complementary defence services businesses.

“There is a clear opportunity to combine our related assets to the benefit of the UAE’s wider defence sector as well as our local and international customers,” he added.

“We believe an integrated defence services platform can drive both technological advancement and job creation.”

Saif Al Hajeri, the chief executive of Tawazun, said: “Unifying the capabilities of Tawazun, Mubadala and Emirates Advanced Investment Group presents an opportunity to further catalyse the growth of these businesses.

“All the parties involved stand to benefit from a successful outcome of these discussions.”

Obeid Al Mansouri, the chief execuitve of Emirates Advanced Investments Group, said: “We believe that consolidation of the businesses will deliver benefits to all stakeholders. Each of the businesses has already delivered impressive growth and their unified potential is even greater.

“These discussions are a clear indication of the potential that will be created by the combined growth of our businesses.”

business@thenational.ae