Elbit Systems acquires BAE Systems Rokar
Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) announced today the acquisition of BAE Systems Rokar International Ltd. from BAE Systems, Inc., the U.S. headquartered subsidiary of BAE Systems plc (LON: BA) for approximately $31 million net of any cash in Rokar.
Located in Jerusalem, Israel, Rokar specializes in the development, manufacture, integration, and support of high-end GPS receivers and guidance systems for advanced defense applications.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “There is increasing demand for our networked precision fire solutions. Rokar’s technologies are integrated in our solutions and the acquisition will further enhance our capabilities in this growing area of activity.”