Elbit Systems buys BAE Systems Rokar

Bezhalel Machlis  / Photo: Elbit Systems PR, PR

The Israeli defense electronics company has acquired Jerusalem-based Rokar for $31 million.

Israeli defense electronics company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today the acquisition of BAE Systems Rokar International Ltd. from BAE Systems, Inc. for $31 million net of any cash in Rokar.

Rokar specializes in the development, manufacture, integration, and support of high-end GPS receivers and guidance systems for advanced defense applications. The company has 100 employees in its plant in Jerusalem's Har Hotzvim.

Elbit Systems president and CEO Bezhalel Machlis said, "There is increasing demand for our networked precision fire solutions. Rokar’s technologies are integrated in our solutions and the acquisition will further enhance our capabilities in this growing area of activity."

Published by Globes, Israel business news - en.globes.co.il - on April 1, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Bezhalel Machlis  / Photo: Elbit Systems PR, PR
Bezhalel Machlis / Photo: Elbit Systems PR, PR
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