Elbit Systems Ltd. announced yesterday that it has reached an agreement to acquire the remaining 30% of the shares of Elisra Electronic Systems Ltd. held by Elta Systems Ltd.(a subsidiary of Israel Aerospace Industries Ltd.) for $67.5 million.
Elbit Systems currently owns 70% of Elisra’s shares, and following the acquisition, Elisra will become a wholly-owned subsidiary of Elbit Systems. The acquisition was approved by the boards of directors of Elta and Elbit Systems.
The parties will work to obtain third parties’ approvals, to the extent necessary, in order to complete the acquisition.
Elisra is a world leader in the field of Information Warfare (EW, Intelligence and C3), and is comprised of Elisra, Tadiran Electronic Systems Ltd.and Tadiran Spectralink Ltd.