Elbit to Acquire Harris' Night Vision Business for $350 Million
The Nasdaq and Tel Aviv-listed defense contractor completed its $484 million acquisition of Israel-owned arms manufacturer IMI in November
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Elbit specializes in a variety of electro-optical systems, command and control systems, and unmanned aerial vehicles. For the fiscal year 2018, the company reported revenues of $3.68 billion and a net income of $208.7 million. In November, Elbit completed its NIS 1.8 billion ($484 million at the time) acquisition of state-owned arms manufacturer Israeli Military Industries (IMI) Systems Ltd.The Harris deal is significant to Elbit's long-term growth strategy, "with a particular focus on the U.S.," Elbit president and CEO Bezhalel Machlis said in a statement.