Israel’s Rafael Advanced Defense Systems signs new joint venture agreement with Abu Dhabi-based technology company Group 42
Bryan Cave Leighton Paisner (“BCLP”) has advised Rafael Advanced Defense Systems (“Rafael”) on a new joint venture agreement with Abu Dhabi-based technology company Group 42, an artificial intelligence and cloud computing company, to provide commercialised artificial intelligence (AI) and big data technologies.
Israel state-owned Rafael has more than 70 years of experience in the defence sector and is one of Israel’s three largest defence companies, with 8,000 employees and numerous subcontractors and service providers.
The new venture, Presight.AI, will have a local company in the UAE and plans to have a R&D site in Israel to develop products in the field of AI and big data to be sold in Israel, the UAE and internationally.
The BCLP team advising Rafael was led by Dubai Counsel Greg Nixon, with Dubai Associate Chizoba Edozieproviding support.
Rafael relationship Partner and Co-Chair of BCLP’s Israel desk Jonathan Morris, ranked in Israel Desks recent rankings, commented: “We are delighted to have advised Rafael on this exciting joint venture with G42. Such a transaction was virtually unimaginable less than a year ago and is a testament to the new era of open and friendly relations between Israel and the UAE.”
