Elbit Systems Ltd. (NASDAQ:ESLT and TASE: ESLT) (“Elbit Systems”) announced that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), has signed a definitive agreement with Harris Corporation (NYSE: HRS) (“Harris”) for the acquisition of Harris’ Night Vision business (“Harris Night Vision”) for a purchase price of $350 million.
The transaction is conditioned on completion of Harris’ proposed merger with L3 Technologies, Inc. (NYSE: LLL), as well as customary closing conditions, including receipt of regulatory approvals.
Headquartered in Roanoke, Virginia, Harris Night Vision is a premier developer, producer and supplier of night vision technology for the U.S. and allied military and security forces and for the federal homeland security market.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. Elbit Systems of America has a proven track record of providing high performance solutions and support services to the U.S. defense and homeland security markets. We believe that the completion of this acquisition will be beneficial both for Elbit Systems and for Harris Night Vision’s employees and customers.”
- CHC and UniFly extend Hornsea wind farm support contract
- Alouette III helicopter celebrates 57 years with Portuguese Air Force
- SUU and Chuck Aaron Partner in Helicopter Upset Training
- First flights for new Babcock oil and gas contract
- NHV awarded offshore contract by Shell UK and NAM
- SAFE wins MH-65 maintenance platform contract at UCSG Elizabeth City
- WAI 2021 Scholarship Applications are now open
- Airbus H160 receives EASA approval
- HeliValue$ leads the way with remote helicopter appraisals
- Horizon International Flight Academy Logs More Than 1,000 Flight Hours in its Bell 505 Fleet
- Police Aviation News – July 2020 Edition
- Sikorsky awarded $470M contract for six VH-92 helicopters
- Sikorsky awarded $12M contract modification for CH-53K work
- PAS MRO awarded $9M contract to overhaul UH-60 tip caps
- Rolls-Royce awarded $62M for AE1107C engines for US Navy V-22
- Bell wins $8M contract with Bahrain for AH-1Z flight training device
- Safran to support Dutch Cougar engines
- Consultation under way for Sydney CBD helipad
- US Navy receives first fleet CMV-22B
- Three new helicopters for police in Republika Srpska