HAIFA, Israel, Feb. 22 (UPI) -- Israel's Elbit Systems Ltd. announced Tuesday it has reached an agreement to purchase remaining shares in Elisra Electronic Systems for $67.5 million.
Elisra Electronic Systems is a subsidiary Israel Aerospace Industries. Its business is focused on information warfare products.
Israel's Tadiran Electronic Systems Ltd. and Tadiran Spectralink Ltd. are part of the company.
Elbit already owns 70 percent of Elisra's shares.
Elbit said that following the acquisition Elisra will become a wholly owned Elbit subsidiary.
The acquisition has been approved by both companies and will go forward once third-party approvals needed for the deal are obtained.
Elbit Systems is a defense electronics company operating in the areas of aerospace, land and naval systems; command, control, communications, computers, intelligence surveillance and reconnaissance; unmanned aircraft systems; advanced electro-optics; electro-optic space systems; EW suites; and airborne warning systems.
Additional details of the acquisition weren't disclosed.
