Thursday 08 April 2021

Israel-based technology company Elbit Systems Ltd's (NASDAQ: ESLT) (TASE: ESLT) US subsidiary, Elbit Systems of America, LLC, has closed a deal with an affiliate of Cerberus Capital Management, L.P. and has closed the acquisition of Sparton Corp. for a purchase price of USD 380m, the company said.

Headquartered in De Leon Springs, Florida, Sparton is a developer, producer and supplier of electronic systems supporting Undersea Warfare for the US Navy and allied military forces.

Elbit Systems Ltd. is an international high technology company engaged in a 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, 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.