Aitech acquired by FIMI Opportunity FundsNews
February 23, 2018
CHATSWORTH, California. Aitech Rugged Group, Inc., which designs embedded computing systems for military air and ground systems as well as radiation-hardened solutions for the military and commercial space markets, was acquired by FIMI Opportunity Funds, a private equity firm based in Israel for $30 million.
"We are all very excited," says Doug Patterson VP, Military & Aerospace Business Sector at Aitech Defense Systems, Inc., in Chatsworth, California. "FIMI management really understands the aerospace and defense and space markets. Being one of their satellite companies will only help us grow.
"FIMI owns multiple technology companies and will enable us to access new sales channels, programs and investment capital," he continues. "They have already allocated funding to invest in our product lines and resources. Aitech will maintain its name and branding."
Other companies under FIMI's roof include Gilat Satellite Systems, Magal Security Systems, and TAT Technologies. FIMI also acquired a controlling share -- 55 percent -- in Orbit Technologies in late 2017, according to FIMI's website: http://www.fimi.co.il/.
For more information, visit www.rugged.com.