This news is classified in: Defense Undersea Warfare
Apr 7, 2021
Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) (“Elbit Systems” or “the Company”) announced today, further to the Company’s announcement of December 23, 2020, that its U.S. subsidiary, Elbit Systems of America, LLC (“Elbit Systems of America”), completed the acquisition of Sparton Corporation (“Sparton”) from an affiliate of Cerberus Capital Management, L.P. for a purchase price of $380 million. The closing follows receipt of all the required approvals, including receipt of U.S. Government and regulatory approvals.
Headquartered in De Leon Springs, Florida, U.S., Sparton is a premier developer, producer and supplier of systems supporting Undersea Warfare for the U.S. Navy and allied military forces.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “The growing importance of the maritime arena and the market position and technological strength of Sparton make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. We believe that the completion of this acquisition will be beneficial for both Elbit Systems’ and Sparton’s employees and customers.”
By Type (Weapon Systems, Communication and Surveillance Systems, Sensors and Computation Systems, Countermeasure Systems and Payload, Unmanned Underwater Vehicles), By Mode of Operation (Manned Operations, Autonomous Operations, Remotely Operations), By Application (Combat, C4ISR, Others), By Region, Competition, 2019-2029F
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