Elbit Systems acquires IMI Systems for $495 million
NewsNovember 26, 2018
HAIFA, Israel. International high-tech contractor Elbit Systems has completed its acquisition of defense-systems company IMI Systems (Ramat Ha Sharon, Israel) for a purchase price of approximately $495 million (NIS 1.8 billion), with an additional payment of approximately $27 million (NIS 100 million) contingent upon IMI meeting agreed performance goals.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, remarked on the deal: "The synergy between the capabilities of the two companies and the global positioning of Elbit Systems will enable us to offer an enhanced portfolio and to realize the potential of the technologies of IMI in the international arena, making this acquisition significant to our long-term growth strategy."
