Elbit Systems, September 18, 2019 - HAIFA, Israel - Elbit Systems Ltd announced that its U.S. subsidiary, Elbit Systems of America, LLC, completed the acquisition of the Night Vision business of L3Harris Technologies (NYSE: LHX) for a purchase price of $350 million.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: "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 U.S. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision's customers and employees."
Jefferies LLC is acting as exclusive financial advisor to Elbit Systems of America and Covington & Burling LLP is serving as legal counsel for the acquisition. Morgan Stanley & Co. LLC is acting as financial advisor to Harris and Sullivan & Cromwell LLP is serving as legal counsel.
About Elbit Systems: Elbit Systems Ltd (NASDAQ: ESLT and TASE: ESLT) 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 and 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.