RAFAEL Advanced Defense Systems Ltd today announced entry into the unmanned aerial platform domain with acquisition of Aeronautics Ltd.
~
Press Release, 03 September 2019: RAFAEL Advanced Defense Systems Ltd., developer and manufacturer of some of the world’s most groundbreaking technologies for air, land, naval, space and cyber applications, announces it has completed, with its partner, Mr. Avichai Stolero, the acquisition of Aeronautics Ltd., one of Israel’s leading developers of unmanned aerial systems. The deal is set to be finalised in the coming days.
Heading an industry group focused on unmanned solutions, systems and subsystems, Aeronautics Ltd. provides integrated turnkey solutions based on unmanned systems platforms, payloads and communications for defence and civil applications. Upon Closing, RAFAEL will hold 50% of Aeronautics, with partner Mr. Avichai Stolero, holding the other half.
The move comes as part of RAFAEL’s long term strategy to evaluate and implement new areas of growth, including by M&A of unmanned platform companies. Aeronautics will take part in some of RAFAEL’s innovation projects, with a vision to increase mutual growth, explore new markets, and provide end-to-end solutions in the low-tier aerial domain, relying on best practices, mutual expertise and capabilities, to create new synergies and solutions.
RAFAEL President and CEO, Maj. Gen. (Ret.) Yoav Har-Even: “We are proud and look forward to working with Aeronautics’ scientists and engineers who bring with them vast experience, knowhow and unique technologies, some of the world’s best. Connecting those with RAFAEL’s technological richness, proven systems, infrastructure and resources, financial robustness, and most importantly, our excellent human capital, is a force-multiplier, guaranteed to be of high technological and strategic value in helping us to reach our goals. I would also like to thank all the people involved in the process, as well as our partner, Mr. Avichai Stolero.”
RAFAEL Chairman of the Board of Directors, Dr. Uzi Landau: “I would like to express my gratitude and appreciation to the employees and management of RAFAEL and Aeronautics for their work and cooperation and for the successful completion of this acquisition process. I wish us all the best of luck with our new future endeavours and challenges.”
