Social Economic Cabinet approved the deal in which Rafael aquires Aeronautics for NIS 850 million

by Ifi Reporter Category:Financial Aug 13, 2019

The Aeronautics deal was approved by the government. The Social Economic Cabinet, led by Finance Minister Moshe Kahlon, approved the deal in which Rafael government company and businessman Avihai Stolero bought Aeronautics for NIS 850 million.
 The Aeronautics Group is an Israeli company engaged in the development and production of intelligence-based, unmanned systems solutions for the international security market. The company's center is in Yavne. Following the transaction, Aeronautics' stock will be deleted from the stock exchange and will become a private company.
The aerospace industry was previously interested in the acquisition of Aeronautics and offered about NIS 600 million to acquire it. It is estimated that the aerospace industry wanted to prevent Rafael from entering the small aircraft manufacturing field without pilot
 Since its inception in 1997, Aeronautics has been developing unmanned aircraft systems that are at the forefront of technology, serving about 70 different military and security customers in more than 50 different countries.
The company's products are used for three main uses: military uses, homeland protection and civilian uses.
The technology developed at Aeronautics combines unmanned systems of various types and sizes with surveillance equipment and advanced and innovative intelligence collection. Aeronautics has a number of subsidiaries. 

Photo:  Aeronautics site

 

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