Elbit announced today (Wednesday) to the stock exchange the acquisition agreement of the American company Sparton, which specializes in anti-submarine combat systems at a cost of $ 380 million to be carried out by the American subsidiary of Elbit.
Under the agreement, the purchase is subject to various conditions such as obtaining regulatory approvals from the US authorities, a procedure which may take several months.
Sparton’s headquarters are located in the city of De Leon Springs, Florida, and is considered a leading manufacturer of electronic systems that support underwater combat for the U.S. Navy and Allied armies.
Bezalel (Muddy) Machlis, President and CEO of Elbit Systems, said: “The acquisition will strengthen Elbit’s capabilities and enable the expansion of maritime activities. We believe that this acquisition will be of value to the employees and customers of both companies. ”
As you may recall, in 2017 Elbit acquired a Canadian company (Gausspectrum) that specializes in sonar and underwater communications systems and in 2016 Elbit launched an unmanned vessel designed for submarine warfare. Elbit is considered one of the leaders in the development and supply of electronic warfare systems for submarines.