Israel Aerospace Industries (IAI) has signed a deal to acquire HELA Systems Private Limited. IAI’s investment in HELA is a strong demonstration of IAI's support for the Indian government’s Atmanirbhar Bharat (Make in India) vision. The current deal also shows IAI’s commitment to its strong partnership with India’s DRDO in developing and supporting advanced systems for India’s Armed Forces.
HELA will provide full maintenance, repair and overhaul product support for IAI unit ELTA Systems, as well as testing and technical services including annual maintenance contracts and supply of spares to Indian defense customers. The company has a large facility in Hyderabad’s fast-growing industrial belt. HELA’s management and technical team comprise radio frequency and microwave specialists, familiar with cutting-edge technologies and working on futuristic military applications. HELA's team are also well-versed with the relevant industry standards to serve India’s armed services as well as India’s other defense organizations.
IAI president and CEO Boaz Levy said, "IAI conducts a wide range of collaborative activities and acquisitions throughout the world as part of the company's strategy. IAI supplies advanced and operationally-proven systems for marine, land, air, and space use, and works closely with India’s Armed Forces to develop and produce advanced technologies. For the past 30 years, IAI has built close partnerships in India developing and providing Indian customers with a variety of strategic platforms, including air and missile defense systems, unmanned aerial systems, satellites, radars, and training platforms."
IAI's VP and ELTA CEO Yoav Turgeman added, "The acquisition of HELA Systems reflects our strategic transformation to provide fast direct access to ELTA's superior solutions in full support of India's Atmanirbhar Bharat vision of becoming self-reliant. HELA leverages top technology, innovation, and talent to deliver customer satisfaction so customers can focus on their mission. IAI has long-standing operations in India, working with many partners and customers in the Indian market."
IAI’s state-of-the-art systems and technologies have been in operational use in India’s three military arms and with other government agencies. ELTA Systems is one of Israel’s leading defense electronics companies with wide-ranging expertise in intelligence, electronic warfare, surveillance and target acquisition.
Published by Globes, Israel business news - en.globes.co.il - on July 9, 2023.
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