Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) has signed an agreement to invest $18 million in Pearls of Wisdom Advanced Technologies Ltd. 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.
Pearls of Wisdom is an Israeli company that develops micro-sensors for intelligence gathering, enabling terrain dominance.
On Thursday, Elbit Systems acquired two Brazilian defense companies, Ares Aeroespecial e Defesa SA and Periscopio Equipamentos Optronicos SA, which develop defense electronics systems and supply a range of products to the Brazilian military and other markets in South America.
Elbit Systems' share closed at $53.13 on Nasdaq on Friday, giving a market cap of $2.27 billion. The share price rose 0.6% in morning trading on the TASE today to NIS 193.10.
Published by Globes [online], Israel business news - www.globes-online.com - on January 3, 2011
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