Latest news with #ÁngelEscribano
Euractiv
11-07-2025
- Business
- Euractiv
Indra moves to dominate Spain's defence sector, but raises conflict-of-interest concerns
MADRID – Spanish technology and defence giant Indra began formal merger negotiations with defence company Escribano Mechanical & Engineering (EM&E) on Thursday, a move that would consolidate the country's growing defence sector. The proposed deal has sparked serious conflict-of-interest concerns in Spain, however, as Indra President Ángel Escribano is also a co-owner of EM&E – along with his brother, Javier. The situation has raised eyebrows in Madrid, with critics suggesting that Escribano may in essence be facilitating the acquisition of his own company. According to consultancy reports commissioned by Indra, EM&E is valued at €1.5 billion. Indra had not responded to questions from Euractiv as of publication time. The deal comes amid Indra's broader ambition, outlined in its 2024 strategic roadmap, to become Spain's dominant national defence champion within the next decade. The company is well-positioned to benefit from the recent push by Spanish Prime Minister Pedro Sánchez government to boost defence spending, announced last April. Currently, defence contracts account for 12% of Indra's total revenue. Merging with EM&E, one of Spain's leading private defence contractors, would reinforce Indra's defence portfolio, which already includes majority stakes in Tess Defence (51%) and ITP Aero (9.5%), as well as new strategic partnerships with German armaments giant Rheinmetall. In breach of the law? EM&E, meanwhile, is Indra's largest private shareholder with a 14.3% stake. The state-owned SEPI fund holds another 28%, raising concerns about anti-competitive behaviour and market concentration that could potentially breach Spanish and European Law. "From a competition law perspective, the possible merger raises significant questions about market access and fair competition," Francisco Marcos, a professor at Madrid's IE Law School, told Euractiv. He warned of potential 'foreclosure effects' and 'self-preference in public tenders', especially as both firms already play major roles as state contractors. Marcos stressed the need for thorough regulatory scrutiny to ensure "efficiency and competitive plurality" in a strategically vital and publicly funded sector. Technology firm SAPA, Indra's third shareholder (7.94%) has come out against the merger, and independent board members reportedly also plan to vote against the transaction. Some considered resigning from the board over the potential conflict of interest and the risk of legal liability in potential shareholder lawsuits. El País reported on Thursday evening after the initial talks that Indra will create an independent commission to decide on the purchase, to 'guarantee good corporate governance'. Indra's executive board is set to vote on the merger on 23 July. (cs, bts)
Al Etihad
25-03-2025
- Business
- Al Etihad
Maqta Technologies Group, Indra Group to develop solutions for smart ports
25 Mar 2025 11:50 ABU DHABI (ALETIHAD) AD Ports Group on Tuesday announced a strategic partnership agreement signed between its digital arm, Maqta Technologies Group, and the Indra Group to explore opportunities for jointly offering digitalisation services and solutions for ports, logistics, and trade across Europe, the Middle East, and agreement outlines that Maqta Technologies Group and Indra Group will collaborate and leverage their technical expertise to develop solutions for smart ports and trade digitalisation. This includes Port Community Systems (PCS), port, maritime, and logistics Single Windows, as well as solutions to enhance the logistics chain's efficiency and they will focus on port, multi-modal terminal, and border management systems, as well as other smart mobility solutions, which will enhance the market offerings of both Noura Al Dhaheri, CEO of Maqta Technologies Group and Digital Cluster - AD Ports Group, said, 'By forging strong collaborations, where shared vision of innovation and sustainability unlock opportunities of mutual success and growth, we fast-track our international ambitions. "Partnership agreements, such as this with Indra, mark yet another milestone, in addition to serving as a gateway to Europe and Africa. Maqta Technologies' proven expertise in driving seamless digital transformation of trade and logistics processes will offer a key competitive advantage.'Ángel Escribano, Executive Chairman of Indra Group, said, 'This agreement constitutes another step forward in Indra's international growth strategy, in this case in its Mobility business, in close collaboration with a prominent ally such as Maqta Technologies, which, in addition to its extensive knowledge of technology for trade and the port and logistics sector, has significant access to high-potential regional markets from the UAE. Indra will bring its expertise in port technology, deployed in more than 70 ports worldwide.'Both sides emphasised the importance of this partnership in driving international growth and delivering competitive advantages through seamless digital transformation. This agreement not only strengthens their market offerings but also opens new opportunities for mutual success and growth in high-potential regional markets.
Zawya
25-03-2025
- Business
- Zawya
Maqta Technologies Group, Indra Group to develop solutions for smart ports
ABU DHABI -- AD Ports Group today announced a strategic partnership agreement signed between its digital arm, Maqta Technologies Group, and the Indra Group to explore opportunities for jointly offering digitalisation services and solutions for ports, logistics, and trade across Europe, the Middle East, and Africa. The agreement outlines that Maqta Technologies Group and Indra Group will collaborate and leverage their technical expertise to develop solutions for smart ports and trade digitalisation. This includes Port Community Systems (PCS), port, maritime, and logistics Single Windows, as well as solutions to enhance the logistics chain's efficiency and sustainability. Additionally, they will focus on port, multi-modal terminal, and border management systems, as well as other smart mobility solutions, which will enhance the market offerings of both companies. Dr. Noura Al Dhaheri, CEO of Maqta Technologies Group and Digital Cluster - AD Ports Group, said, 'By forging strong collaborations, where shared vision of innovation and sustainability unlock opportunities of mutual success and growth, we fast-track our international ambitions. Partnership agreements, such as this with Indra, mark yet another milestone, in addition to serving as a gateway to Europe and Africa. Maqta Technologies' proven expertise in driving seamless digital transformation of trade and logistics processes will offer a key competitive advantage.' Ángel Escribano, Executive Chairman of Indra Group, said, 'This agreement constitutes another step forward in Indra's international growth strategy, in this case in its Mobility business, in close collaboration with a prominent ally such as Maqta Technologies, which, in addition to its extensive knowledge of technology for trade and the port and logistics sector, has significant access to high-potential regional markets from the UAE. Indra will bring its expertise in port technology, deployed in more than 70 ports worldwide.' Both sides emphasised the importance of this partnership in driving international growth and delivering competitive advantages through seamless digital transformation. This agreement not only strengthens their market offerings but also opens new opportunities for mutual success and growth in high-potential regional markets.
Zawya
19-02-2025
- Business
- Zawya
ADSB joins forces with Indra to equip the FA-400 Offshore Patrol Vessel with advanced naval systems
Advanced radar, electronic warfare, and counter-UAS solutions to be delivered through PULSE, the Abu Dhabi-based joint venture between EDGE and Indra Abu Dhabi, UAE: EDGE Group entity, ADSB, a regional leader in the design, construction, repair, maintenance, refit, and conversion of naval and commercial vessels, has formed a strategic partnership with Indra, a world-leading information technology and defence systems company headquartered in Spain. The collaboration, supported by PULSE, the joint venture between EDGE, ADSB's parent company, and Indra, will equip ADSB's FA-400 offshore patrol vessel with Indra's advanced 3D Radar, Radar Electronic Support Measures (R-ESM), Communications Electronic Support Measures (C-ESM), and Counter-Unmanned Aerial Systems (C-UAS) jammers, significantly enhancing its operational effectiveness. The agreement was signed by Mr. Ángel Escribano, Executive Chairman of Indra Group and Khaled Al Zaabi, President – Platforms & Systems, EDGE and Chairman of ADSB, at the Naval Defence Exhibition & Conference (NAVDEX 2025) in Abu Dhabi, which runs until 21st February. Speaking on the occasion, Khaled Al Zaabi said: 'As a vessel entirely designed and constructed in the UAE, the FA-400 reinforces our objective of building a portfolio of world-class platforms, fully aligned with the needs of modern defence. Integrating Indra's advanced radar and electromagnetic systems enhances the FA-400's capabilities, ensuring resilience and adaptability to meet a range of operational challenges.' For his part, Ángel Escribano said: 'Indra brings decades of expertise in developing high-performance defence technologies, with its 3D Radar, EW, and C-UAS solutions widely recognised for their robust capabilities across challenging operational environments. The integration of our proven systems ADSB's FA-400 reflects a shared vision to elevate naval defence standards and introduce a new level of sophistication to UAE-built naval vessels.' The FA-400, equipped with Indra's advanced radar, electronic warfare, and counter-UAS solutions, is on display at the NAVDEX mooring, providing attendees with an in-depth look at its capabilities. Designed and built entirely in the UAE, the vessel demonstrates exceptional operational versatility, reinforcing its role as a strategic asset in modern naval operations. The integrated naval suite is being delivered through PULSE, the Abu Dhabi-based joint venture between EDGE and Indra, further enhancing local industrial expertise and capability development. About ADSB Abu Dhabi Ship Building (ADSB) is the regional leader in the new build, repair, maintenance, refit and conversion of naval and commercial vessels, and runs one of the most advanced shipyards in the region with a successful track record spanning almost a quarter of a century. Part of the Platforms & Systems cluster of EDGE, ADSB plays a key role in increasing the UAE's naval defence capabilities and keeping the UAE's maritime fleet in prime operational condition. The company is also involved in the civilian energy sector, providing fabrication, maintenance and refurbishment services for static offshore energy infrastructure. As an ambitious market leader, ADSB is striving to make a global impact and shape the future of the industry by delivering innovative and dependable solutions that bring added value to clients and other stakeholders, both military and civilian. About Indra Indra is a leading Spanish multinational and one of the foremost global defence, air traffic and space companies that, through technology, protects our current way of life and anticipates the needs of the future. Its committed team of experts, its in-depth knowledge of the business and the latest technologies, and its unique innovation and systems integration capabilities make it the trusted technology partner for key operations and digitalization for its customers around the world. Thanks to its leadership in major European programs and projects, as well as its spirit of collaboration and partnership strategy, it drives the industrial and innovative ecosystem in these sectors. About EDGE Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security.
Trade Arabia
19-02-2025
- Business
- Trade Arabia
ADSB joins forces with Indra to equip patrol vessels
EDGE Group entity, ADSB, a regional leader in the design, construction, repair, maintenance, refit, and conversion of naval and commercial vessels, has formed a strategic partnership with Indra, a world-leading information technology and defence systems company headquartered in Spain. The collaboration, supported by Pulse, the joint venture between EDGE, ADSB's parent company, and Indra, will equip ADSB's FA-400 offshore patrol vessel with Indra's advanced 3D Radar, Radar Electronic Support Measures (R-ESM), Communications Electronic Support Measures (C-ESM), and Counter-Unmanned Aerial Systems (C-UAS) jammers, significantly enhancing its operational effectiveness. The agreement was signed by Ángel Escribano, Executive Chairman of Indra Group and Khaled Al Zaabi, President – Platforms & Systems, EDGE and Chairman of ADSB, at the Naval Defence Exhibition & Conference (Navdex 2025) in Abu Dhabi, which runs until February 21. Al Zaabi said: 'As a vessel entirely designed and constructed in the UAE, the FA-400 reinforces our objective of building a portfolio of world-class platforms, fully aligned with the needs of modern defence. Integrating Indra's advanced radar and electromagnetic systems enhances the FA-400's capabilities, ensuring resilience and adaptability to meet a range of operational challenges.' For his part, Escribano said: 'Indra brings decades of expertise in developing high-performance defence technologies, with its 3D Radar, EW, and C-UAS solutions widely recognised for their robust capabilities across challenging operational environments. The integration of our proven systems ADSB's FA-400 reflects a shared vision to elevate naval defence standards and introduce a new level of sophistication to UAE-built naval vessels.' The FA-400, equipped with Indra's advanced radar, electronic warfare, and counter-UAS solutions, is on display at the NAVDEX mooring, providing attendees with an in-depth look at its capabilities. Designed and built entirely in the UAE, the vessel demonstrates exceptional operational versatility, reinforcing its role as a strategic asset in modern naval operations. The integrated naval suite is being delivered through PULSE, the Abu Dhabi-based joint venture between EDGE and Indra, further enhancing local industrial expertise and capability development. - TradeArabia News Service
