Leonardo DRS and RADA announce merger agreementNews
June 21, 2022
ARLINGTON, Va. and NETANYA, Israel. Leonardo DRS and RADA Electronic Industries announced that they have entered into a definitive agreement to merge and become a combined public company.
Under the terms of the agreement, expected to be completed during the fourth quarter of 2022, RADA will become a wholly-owned subsidiary of Leonardo DRS.
According to the merger announcement, the combined company will work across a spectrum of defense products, including advanced sensing, force protection, network computing, and electrical power and propulsion. The company will also hold positions on a number of U.S. defense force-protection programs of record, including a partnership with Anduril Industries on the U.S. Army Maneuver-Short Range Air Defense (M-SHORAD) and SOCOM SIP [special operations command system integration partner], the Marine Corps GBAD [ground-based air defense], and the Air Force Air Base Air Defense.