Elbit Systems Ltd announced Friday it acquired Brazilian companies, Ares Aeroespecial e Defesa S.A. and Periscopio Equipamentos Optronicos S.A. The acquisition was accomplished in a series of transactions totaling tens of millions Brazilian Reals.
Ares and Periscopio are involved in the area of defense electronic systems and supply a range of products to the Brazilian military as well as to additional markets in South America. Located in the vicinity of Rio de Janeiro, the companies have approximately 70 employees. The selling shareholders are continuing to perform management functions in the companies following the acquisition.
Elbit Systems Ltd. is an international defense Electronics Company engaged in a wide range of 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 (“UAS”), advanced electro-optics, electro-optic space systems, EW suites, airborne warning systems, ELINT systems, data links and military communications systems and radios.
The Company also focuses on the upgrading of existing military platforms, developing new technologies for defense, homeland security and commercial aviation applications and providing a range of support services. The firm’s shares are traded on the and on the Tel-Aviv Stock Exchange (TASE).
Located in the vicinity of Rio de Janeiro, the companies have approximately 70 employees. The selling shareholders will continue to perform management functions in the companies following the acquisition.
The Israel firm announced as well that its Silver Arrow unit operations will be transferred first to a new Golden Arrow unit. Elbit Systems Ltd said today that that as part of an internal reorganization of its holdings in some of its wholly-owned subsidiaries, its Silver Arrow unmanned aerial vehicle (UAV) unit will eventually be merged directly into Elbit Systems.
At the beginning of the process, the assets and liabilities of Silver Arrow will be transferred to a new wholly-owned subsidiary of Elbit Systems Elbit Systems Golden Arrow Ltd., and that will later be merged into Elbit Systems. Elbit said the reason for the move is “to enhance the efficiencies of its business operations. Elbit shares closed yesterday at $51.67, giving a market cap of $2.2 billion. The Brazilian investment is expected to foment its position in the Latin America’s biggest market.