The United Arab Emirates plans to acquire a minority stake in Fire Point, valuing the Ukrainian drone and missile manufacturer at about $2.5 billion, according to unnamed sources familiar with the deal cited by BBC News Ukraine.
Sources told the BBC that the UAE’s state-owned defense conglomerate EDGE intends to purchase 30 percent of Fire Point, implying a transaction value of roughly $760 million.
Fire Point has already submitted the required documents to Ukraine’s Antimonopoly Committee, the sources told the media outlet.
EDGE, which belongs to the UAE’s sovereign wealth structure, would take a minority position in the company. The deal, if completed, would rank to be the largest publicly disclosed foreign investments into Ukraine’s defense-tech sector since Russia’s full-scale invasion.
Fire Point was founded in 2022 by Denys Shtilerman and Yehor Skalyha, with Iryna Terekh later joining the founding team. The company produces FP-1 and FP-2 deep- and mid-range strike drones as well as the Flamingo cruise missile. According to the company, its product roadmap also includes ballistic missile development.
The company drew public attention in 2025 after Ukrainian officials highlighted the role of its systems in long-range strikes.
At its first public press conference in November, Ukraine’s General Staff said more than 50% of the country’s deep-strike drones in August-September 2025 were produced by Fire Point, based on military data presented at the briefing.
Fire Point has also come under scrutiny. Ukrainian investigators confirmed that the National Anti-Corruption Bureau of Ukraine (NABU) is reviewing certain aspects of drone procurement involving multiple suppliers, including Fire Point, although the company has not been charged and no founders have received notices of suspicion.
The company previously rejected an investment proposal from businessman Timur Mindich, according to statements made by Fire Point’s founders during the November briefing.
The Kyiv Independent reported in August 2025 that NABU detectives were investigating Fire Point over possible drone overpricing and potential links to Zelensky associates, including Timur Mindich. The New York Times wrote in October that Fire Point owner Yehor Skalyha runs a film location scouting company that worked on a 2016 romantic comedy starring Zelensky before his presidency.
EDGE was established in 2017 and is headquartered in Abu Dhabi. The group объединяет more than 35 companies across six core clusters, including platforms and systems, missiles and weapons, space and cyber technologies, commercial services, advanced technologies and innovation, and homeland security.