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© tamas ambrits dreamstime.com Business | November 26, 2018

IMI Systems now part of Elbit Systems

Elbit Systems Ltd. has completed the acquisition of IMI Systems Ltd. for a purchase price of approximately USD 495 million, with an additional payment of approximately USD 27 million contingent upon IMI meeting agreed performance goals.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented in a press release: "The synergy between the capabilities of the two companies and the global positioning of Elbit Systems will enable us to offer an enhanced portfolio and to realize the potential of the technologies of IMI in the international arena, making this acquisition significant to our long-term growth strategy." Machlis added: "Elbit Systems has a proven track record of successfully performing major acquisitions, and I am convinced that this acquisition will be beneficial for Israel's economy, for both companies' employees and customers and for our shareholders."
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December 05 2018 3:01 pm V11.10.4-2