Israel’s IMCO Group acquires innovative UAS capabilities and activities with the acquisition of the assets and activities of Innocon Ltd.
Press Release, Tel-Hannan, 23 September 2021: IMCO Group, a leading defence provider of comprehensive solutions for air, ground, and naval applications, announced the acquisition of the assets and activities of Innocon Ltd., an innovative Israeli developer and manufacturer of Micro, Mini and Tactical unmanned aerial systems as well as mission systems for manned light airplanes.
IMCO Group acquires Innocon’s assets and activities through one of its subsidiaries who, among other activities, provides unprecedented aerial and aviation capabilities and solutions to meet the challenges of the modern defence, homeland security and civilian markets. This subsidiary acquired Innocon’s assets and activities for NIS 3 million, plus an additional amount equal to 25% of the subsidiary’s net profit during 72 months from January 1, 2022, and up to a total and cumulative ceiling of NIS 1,750,000.
Leading IMCO Group’s aerial and aviation activities, IMCO’s subsidiary will combine the newly acquired capabilities with the advanced capabilities existing within IMCO Group’s other subsidiaries and utilising IMCO’s global production, project management and marketing capabilities, and Innocon’s unique technology and solutions.
Eitan Zait, IMCO Industries CEO: “As a leading group in the defence industry, IMCO is pleased to announce that we have completed another step in our expansion strategy and acquired the assets and activities of Innocon, an innovative UAS developer and manufacturer. As a leading integrator of comprehensive defence solutions, we will keep offering our customers affordable and innovative tactical terrain dominance solutions that include the utilisation of unmanned aerial, ground and maritime vehicles, controlled by a central command centre integrating unique advanced software and artificial intelligence solutions.”