Elbit Systems Completes Acquisition of Azimuth Technologies’ Shares
(NASDAQ:ESLT and TASE:ESLT) announced today, further to its announcements on
the acquisition of the balance of shares in Azimuth Technologies Ltd.
(“Azimuth”) pursuant to the merger agreement signed by Azimuth and Elbit
Systems’ wholly owned subsidiary, Elbit Security Systems Ltd., in
2010
(Logo: http://www.newscom.com/cgi-bin/prnh/20080408/300441 )
In
purchase price for the balance of Azimuth’s shares, following certain
adjustments made in accordance with the merger agreement, is approximately
Under the terms of the merger agreement, an amount of approximately
1.6 million
be released to Azimuth’s shareholders subject to the terms of the merger
agreement.
Azimuth is an Israeli company engaged mainly in the areas of navigation
and target acquisition, fire coordination, north finding systems as well as
electro-optics for defense and government solutions. Azimuth also has a
subsidiary in the UK engaged in similar activities.
About Elbit Systems
Elbit Systems Ltd. is an international defense electronics company
engaged in a wide range of programs throughout the world. The Company, which
includes Elbit Systems and its subsidiaries, operates in the areas of
aerospace, land and naval systems, command, control, communications,
computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned
aircraft systems (“UAS”), advanced electro-optics, electro-optic space
systems, EW suites, airborne warning systems, ELINT systems, data links and
military communications systems and radios. The Company also focuses on the
upgrading of existing military platforms, developing new technologies for
defense, homeland security and commercial aviation applications and providing
a range of support services.
For additional information, visit: http://www.elbitsystems.com.
This press release contains forward-looking statements (within the
meaning of Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended) regarding Elbit
Systems Ltd. and/or its subsidiaries (collectively the Company), to the
extent such statements do not relate to historical or current fact. Forward
Looking Statements are based on management’s expectations, estimates,
projections and assumptions. Forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation Reform Act of
1995, as amended. These statements are not guarantees of future performance
and involve certain risks and uncertainties, which are difficult to predict.
Therefore, actual future results, performance and trends may differ
materially from these forward-looking statements due to a variety of factors,
including, without limitation:scope and length of customer contracts;
governmental regulations and approvals; changes in governmental budgeting
priorities; general market, political and economic conditions in the
countries in which the Company operates or sells, including
United States
performance, including the ability to perform under long-term fixed-price
contracts; and the outcome of legal and/or regulatory proceedings. The
factors listed above are not all-inclusive, and further information is
contained in Elbit Systems Ltd.’s latest annual report on Form 20-F, which is
on file with the U.S. Securities and Exchange Commission. All forward-looking
statements speak only as of the date of this release. The Company does not
undertake to update its forward-looking statements.
Company Contact: IR Contact:
Joseph Gaspar, Executive VP & CFO Ehud Helft / Kenny Green
Dalia Rosen, VP & Head of Corporate CCG Investor Relations
Communications Tel: +1-646-201-9246
Elbit Systems Ltd E-mail:elbitsystems@ccgisrael.com
Tel: +972-4-8316663
Fax: +972-4-8316944
E-mail: j.gaspar@elbitsystems.com
dalia.rosen@elbitsystems.com
SOURCE Elbit Systems Ltd