Elbit Systems to acquire the assets of BVR Systems (1998) Ltd

Elbit Systems Ltd. announced today that it signed an agreement for the acquisition of the assets of BVR Systems (1998) Ltd. for a price of $34 million, subject to accounting adjustments. The closing of the transaction is subject to the fulfillment of certain conditions including receipt of all approvals required by law.

BVR Systems (1998) Ltd. is a leader in the area of development and production of training, simulation and debriefing systems for air, sea and ground forces. 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".