Qioptiq logo Raytheon

BUSINESS NEWS

22 Dec 10. BAE Systems plc has agreed to acquire Danish-based cyber and intelligence company ETI A/S and associated companies for DKK 1.2bn cash, about £137m. ETI provides advanced technology products and services to government and commercial clients worldwide. It generated sales of DKK 347m in the year to June. The acquisition, from ETI Holdings ApS and an associated company, is conditional on receiving regulatory approval. It is expected to close in the first quarter of 2011. (Source: Google)

30 Dec 10. Elbit Systems Ltd. (NASDAQ and TASE: ESLT) has acquired the
Brazilian companies, Ares Aeroespecial e Defesa S.A. (“Ares”) and Periscopio Equipamentos Optronicos S.A. (“Periscopio”). 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.

03 Jan 11. Elbit Systems Ltd. (NASDAQ and TASE: ESLT) signed an agreement to invest in Pearls of Wisdom Advanced Technologies Ltd. an amount of approximately $18m. The investment will be made by one of Elbit
Systems’ subsidiaries and will be performed in several stages over several years, according to a road map agreed by Elbit Systems and the current investors. Elbit Systems’ holdings in Pearls of Wisdom will increase gradually. Pearls of Wisdom, an Israeli company, develops micro-sensors for intelligence gathering, enabling terrain dominance

30 Dec 10. Elbit Systems Ltd. (NASDAQ and TASE: ESLT) announced that, as part of an internal reorganization of its holdings in certain wholly-owned subsidiaries, to enhance the efficiencies of its business operations, its board of directors approved a merger plan, to be performed in a series of transactions, that will result in the merger of its wholly-owned limited partnership Silver Arrow into Elbit Systems. Pursuant to the merger plan, the assets and liabilities of Silver Arrow will be transferred to a new wholly-owned subsidiary of Elbit Systems – Elbit Systems Golden Arrow Ltd. that eventually will be merged into Elbit Systems. The merger plan will be submitted to the Israeli Companies Registrar for approval. Subject to applicable approvals, the merger will be effective as of December 31, 2010.

03 Jan 11. Esterline Corporation (NYSE:ESL – News) has acquired Eclipse Electronic Systems for total consideration of approximately $120m,subject to certain adjustments. The acquisition was financed from cash on hand.
Eclipse, headquartered in Richardson, Texas, is a leading supplier of signals intelligence and communications intelligence (SIGINT/COMINT) receiver hardware to the airborne intelligence, surveillance and reconnaissance (ISR) market. The company’s products incorporate modern, open-architecture software/firmware configurable designs, and are deployed on a wide range of U.S. and foreign manned airborne platforms. Eclipse products also are deployed on such next generation unmanned platforms as the Northrop Grumman Global Hawk, and General Atomics Reaper and Predator. Brad Lawrence, Esterline CEO, said Eclipse is a “…true technology leader with a significant presence on the majority of airborne SIGINT platforms.” Lawrence added that “Eclipse is a highly respected and fast growing company with a broad base of customers, both among major industry prime integrators and within the government defense and intelligence communities.”
For Esterline, the transaction creates a robust business platform for growth in the ISR market. “Eclipse aligns well with our other communications businesses in secure on-board communications,” Lawrence said, adding that a combination of continued organic growth and the potential

Back to article list