Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT) announced today that its US subsidiary Elbit Systems of America, LLC has signed an agreement with Harris Corp. (NYSE: HRS) for the acquisition of Harris' Night Vision business for a purchase $350 million.
The deal is contingent on the completion of Harris's proposed merger with L3 Technologies, Inc. (NYSE: LLL), as well as customary closing conditions, including receipt of regulatory approvals.
Headquartered in Roanoke, Virginia, Harris Night Vision develops, produces and supplies night vision technology for the U.S. and allied military and security forces and for the federal homeland security market.
Elbit Systems president & CEO Bezhalel Machlis said, "The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the US. Elbit Systems of America has a proven track record of providing high performance solutions and support services to the US defense and homeland security markets. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision's employees and customers."
Published by Globes, Israel business news - en.globes.co.il - on April 5, 2019
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