Elbit Systems has signed an agreement to acquire the assets of Israeli training, simulation and debriefing specialist BVR Systems for a total of $34 million. The company develops and produces equipment for use by air, land and maritime forces.
Elbit chief executive Joseph Ackerman says the BVR acquisition is in line with his company's long-term strategy of pursuing growth through mergers and acquisitions with complementary companies offering "high synergistic value".
Ackerman: "The company's capabilities complement Elbit Systems' other training capabilities."
"BVR Systems is a well-established company with advanced technology products that have proven operational success," says Ackerman. "The company's capabilities complement Elbit Systems' other training capabilities."
Completion of the transaction is subject to the fulfilment of certain conditions, including the receipt of all legal approvals in Israel.