Elbit Systems announced on 25 November that it has completed the acquisition of defence systems house IMI Systems Ltd. for a purchase price of approx. $495 million. An additional potential payment of approx. $27 million is contingent upon IMI Meeting agreed performance goals.
"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 realise the potential of the technologies of IMI in the international arena, making this acquisition significant to our long-term growth strategy,” commented Elbit Systems’ President and CEO, Bezhalel Machlis. "Elbit Systems has a proven track record of successfully performing major acquisitions, and I am convinced that this acquisition will be beneficial for Israel's economy, for both companies' employees and customers and for our shareholders."