Rafael Advanced Defense Systems Ltd. has acquired 49% of South Korean communications technology developer PineTelecom Ltd. The company did not disclose the terms of the deal.
Rafael and PineTelecom will cooperate in the design, development, and manufacture of high-end communications systems for the Korean military, including technology transfer. The companies already collaborate on Korean defense programs.
PineTelecom specializes in wireless data links for military and commercial applications. Its capabilities, technologies and a proven track-record in the development, manufacturing and installation of unmanned aerial vehicle (UAV) data link solutions. It will continue to operate as an independent company with engineering and operational collaboration from Rafael, in order to strengthen its competitiveness in the Korean and international defense communication market, offerer comprehensive solutions and advanced systems to the Korean and other militaries.
Rafael is a leading developer and manufacturer of military communication systems, including airborne data-links and software defined radio for ground forces, as well as airborne C4ISR systems, such as Litening and Reccelite. The Korean Army uses Rafael's Spike antitank missiles.
Rafael CEO Yedidia Yaari said that the agreement was in line with the company's international strategy to widen partnerships with local industries. "Today's signing marks our strong faith in PineTelecom's role as a partner in the Korean market. PineTelecom, like Rafael, is a strong believer in the development of holistic systems, rather than individual components. With this common vision, we look forward to sharing our knowledge and expertise with PineTelecom."
Published by Globes [online], Israel business news - www.globes-online.com - on November 3, 2013
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