BVR Systems Announces Completion of
On November 19, 2009, BVR Systems (1998) Ltd., announced, further to its announcement of July 20, 2009, the closing of its agreement with Elbit Systems Ltd. (NASDAQl ESLT), pursuant to which BVR sold substantially all of its assets to Elbit Systems Ltd. As part of this transaction, BVR assigned its rights and obligations under various agreements to Elbit Systems Ltd.
Following the transaction Joseph Ackerman, President and CEO of Elbit Systems Ltd., commented: “We welcome BVR’s employees to the Elbit Systems family. The acquisition of BVR System’s business activities is in line with our long-term strategy of growth through mergers and acquisitions of complementary companies with high synergistic value”. Ackerman further added: “BVR Systems is a well-established company with advanced technology products that have proven operational success. The company’s capabilities complement Elbit Systems’ other training capabilities”.
The business activities of BVR Systems (1998) Ltd. were acquired by Elbit Systems Ltd. (NASDAQ: ESLT) on November 19, 2009. Following the acquisition those activities are now conducted as part of Elbit Systems Aerospace Division’s Training and Simulation Business Unit. Accordingly, references in the material below have been changed from BVR to Elbit Systems.
For further information see Elbit Systems website at www.elbitsystems.comor contact: alon.afik@elbitsystems.com
