Elisra to Become Wholly Owned Subsidiary of Elbit Systems

1583

Elbit continues the consolidation of its domestic acquisitions. Following the successful completion of buyout of the remaining ITL Lasers shares held by the public, traded on the Tel-Aviv Stock Exchange, Elbit Systems announed today the procurement of  30% of the remaining shares of Elisra Electronics Systems, held by IAI subsidiary Elta Systems. With this acquisition Elbit Systems will 100% holding of Elisra shares. For these stocks Elbit will pay Elta $67.5 million.

A world leader in Information Warfare, Elisra has about 1,500 employees Elisra has an annual turnover of $300 million, mostly in electronic-warfare, data-links and special communications applications. The majority of the company’s business is derived from export (70%), with customers and projects in more than 50 countries. Since 1973 Elisra has been positioned as a center of excellence for indigenous EW development, equipping all Israel Air Force fighter aircraft, helicopters and transport planes with advanced self-protection active and passive electronic warfare suits.