Sources inform ''Globes'' that Aeronautics Defense Systems Ltd. has acquired Motorola Israel Ltd. unit Government Electronics Department (GED) for $20 million. The deal is expected to be signed today.
Tel Aviv-based GED developments and manufacturers electronic fuses for the defense industry. The acquisition will enable Aeronautics to provide more comprehensive solutions to its customers.
Aeronautics is estimated to have had $150 million revenue in 2008. The Yavne-based company is owned by Avi and Aharon Shaked, Moshe Caspi, and CEO Avi Leumi. It develops and manufactures unmanned aerial vehicles (UAV), mini-UAVs, Aerial intelligence surveillance and reconnaissance systems (observation balloons), and command and control systems for the IDF and other armies.
Motorola Inc. (NYSE: MOT) abandoned the electronic fuses business a long time ago, and only Motorola Israel still kept the business, whose primary customer is Israel Military Industries Ltd. (IMI).
Aeronautics declined to comment. Motorola Israel said, "No comment."
Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2009
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