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.