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Elbit completes acquisition of Harris Night Vision

Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that its US subsidiary Elbit Systems of America, LLC has completed the $350 million acquisition of the Night Vision business of L3Harris Technologies (NYSE: LHX) (Harris Night Vision).

Elbit Systems president CEO Bezhalel Machlis said, “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the US. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision’s customers and employees.”

Elbit announced the acquisition six months ago and has raised NIS 665 million in a private placement with institutional investors in order to finance the acquisition.

Published by Globes [online], Israel business news – en.globes.co.il – on September 15, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018


Article source: https://en.globes.co.il/en/article-1001300762#utm_source=RSS

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