Elbit Systems Ltd. has completed the
acquisition of the assets and operations of the privately-owned U.S. company
Universal Avionics Systems Corporation for a purchase price of approximately
$120m.
Headquartered in Tucson Arizona, and operating
in several facilities across the U.S., Universal Avionics is a developer and
manufacturer of commercial avionics systems for the retrofit and forward-fit
market, for a wide range of fixed and rotary aircraft types.
Universal Avionics’ solutions include Flight
Management Systems (FMS), displays, communication systems, complete cockpit
solutions and additional advanced commercial avionics systems, which are
complementary to Elbit Systems’ internationally successful commercial avionics
systems, Enhanced Flight Vision Systems (EFVS) and Head-Up Display (HUD) product
line.
|
Universal acquisition allows Elbit Systems to
offer complete cockpit solutions. |
This acquisition will enable the Company to
offer a broad portfolio of advanced end-to-end cockpit solutions for commercial
OEMs and After Market customers.
Following the acquisition, Universal Avionics’
business will continue to operate, with the same management and workforce and
under the same name, as a wholly-owned U.S. subsidiary of Elbit Systems.
Bezhalel (Butzi) Machlis,
Elbit Systems President & CEO, commented: “We have been providing unique
enhanced flight vision and head up display systems for commercial aviation
platforms for the last several years and see this business line as a key growth
engine. Elbit Systems and Universal Avionics share the same DNA of innovation
and technological leadership, and our combined portfolio creates synergies that
will strengthen our competitive position. I welcome the management and employees
of Universal Avionics to Elbit Systems, and I believe that their skills and
experience will greatly contribute to our activity in the commercial aviation
area."
|