Defense Ministry Suspends Export License of Interception Company Ability Subsidiaries

The Israeli Defense Ministry has suspended the export licenses of two subsidiaries of Tel Aviv-based Ability Inc., a company providing interception, geolocation, and cyber intelligence products to security agencies, the ministry announced Tuesday. The two subsidiaries are Ability Security Systems Ltd. and Ability Computer & Software Industries Ltd.

 

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Founded in 1994, Ability provides interception, geolocation, and cyber intelligence products to security agencies. Due to Ability’s inability to maintain a minimum of $2,500,000 in shareholders’ equity by its July 11 deadline, the company received a delisting determination from Nasdaq, but disputed the deadline and remains listed on both Nasdaq and the Tel Aviv Stock Exchange. The Israeli defense ministry suspended the export and marketing licenses of Ability’s two subsidiaries due to violations of the Israeli defense export control law, according to the ministry’s statement. The two companies allegedly carried out marketing and defense export operations without the proper licenses to do so.

A gag order was placed on the additional details surrounding the suspension of the two companies.