Elbit Completes the Acquisition of Universal Avionics Systems Corporation

Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or "the Company") announced today that it has completed the acquisition of the assets and operations of the privately-owned U.S. company Universal Avionics Systems Corporation ("Universal Avionics") for a purchase price of approximately $120 million.  

Headquartered in Tucson Arizona, and operating in several facilities across the U.S., Universal Avionics is a developer and manufacturer of commercial avionics systems for the retrofit and forward-fit market, for a wide range of fixed and rotary aircraft types. Universal Avionics' solutions include Flight Management Systems (FMS), displays, communication systems, complete cockpit solutions and additional advanced commercial avionics systems, which are complementary to Elbit Systems' internationally successful commercial avionics systems, Enhanced Flight Vision Systems (EFVS) and Head-Up Display (HUD) product line.

This acquisition will enable the Company to offer a broad portfolio of advanced end-to-end cockpit solutions for commercial OEMs and After Market customers.

Following the acquisition, Universal Avionics' business will continue to operate, with the same management and workforce and under the same name, as a wholly-owned U.S. subsidiary of Elbit Systems.