Elbit Systems Acquires BAE Systems Rokar
Elbit Systems Ltd. (NASDAQ: ESLT) has acquired BAE Systems Rokar International Ltd. for approximately $31 million. This acquisition, announced on April 1, 2021, strengthens Elbit's capabilities in high-end GPS receivers and guidance systems for defense applications. Located in Jerusalem, Israel, Rokar's technology will enhance Elbit's networked precision fire solutions amid increasing demand in this sector, according to President & CEO Bezhalel (Butzi) Machlis.
- Acquisition of Rokar enhances Elbit's capabilities in GPS and guidance technologies.
- Strategic move to meet increasing demand for networked precision fire solutions.
- None.
HAIFA, Israel, April 1, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today the acquisition of BAE Systems Rokar International Ltd. ("Rokar") from BAE Systems, Inc., the U.S. headquartered subsidiary of BAE Systems plc (LON: BA) for approximately
Located in Jerusalem, Israel, Rokar specializes in the development, manufacture, integration, and support of high-end GPS receivers and guidance systems for advanced defense applications.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: "There is increasing demand for our networked precision fire solutions. Rokar's technologies are integrated in our solutions and the acquisition will further enhance our capabilities in this growing area of activity."
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
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Company Contact:
Joseph Gaspar, Executive VP & CFO Tel: +972-4-8316663
Rami Myerson, Director, Investor Relations Tel: +972-77-2948984
David Vaaknin, VP, Head of Corporate Communications Tel: +972-77-2946691 david.vaaknin@elbitsystems.com
| IR Contact:
Ehud Helft Kenny Green GK Investor Relations Tel: 1-646-201-9246 |
This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business. Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.
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SOURCE Elbit Systems Ltd
