Elbit Completes Acquisition of Shiron Satellite Communications for $16 M

(Haifa, Israel, February 24, 2009) -- Elbit Systems Ltd. (NASDAQ: ESLT) announced, further to its announcement on January 8, 2008, that its wholly-owned Israeli subsidiary, Elbit Systems Land and C4I-Tadiran Ltd. ("ESLC-T") acquired all of the shares of Shiron Satellite Communications (1996) Ltd. ("Shiron"), a privately-owned Israeli company, for a purchase price of $16 million.

Shiron is engaged in the broadband communication market. Its solutions are suited for the growing interactive multimedia broadband satellite market. Shiron's InterSKY(TM) satellite communications system provides broadband satellite services to remote locations Shiron's technology, well proven in the commercial market, is anticipated to be synergetic to the communication technology developed and implemented in ESLC-T's military systems and products.

Source : Elbit Systems Ltd. - click here for more information