SCD, which develops and produces electro-optic systems, completed its acquisition of US company Quantum Imaging in recent days, sources inform "Globes." The company confirmed that the deal for the acquisition of the US company had been signed, but refused to say how much it had paid for it.
SCD, located in Karmiel, has 500 employees. Its annual sales to the defense and civilian markets are believed to be $150-200 million. the company is owned in equal shares by government defense company Rafael Advanced Defense Systems Ltd. and private defense company Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT). Quantum Imaging, which is based in Colorado, has several dozen employees.
Most of SCD's activity is in the development of advanced detectors that improve the performance of night vision systems used by both military and civilian entities. Quantum Imaging develops and manufactures cameras and night vision devices, and SCD was its main supplier of detectors for many years.
SCD CEO Dan Slasky told "Globes" that the decision to acquire the US company had been taken in the framework of SCD's preparations for expanding its activity in the both the defense and civilian markets in the US, with autonomous vehicles and unmanned aerial vehicles (UAVs) being marked as targets.
"The demand for our products in the US market has risen in recent years, and the connection between us and Quantum Imaging will enable us to jointly expand activity in the US," Slasky said. "Quantum Imaging's customers in the US also include leading defense companies, which use its products in various development plans at the level of the soldier in the field, armored fighting vehicles (AFVs)and airborne systems."
Published by Globes [online], Israel Business News - www.globes-online.com - on January 23, 2018
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