Connect with us

Hi, what are you looking for?

Jewish Business News

StartUps

Meir Shamir Invests in Elbit Wearable Computing

ELBIT-SKYLENS-e

 

Until a few years ago, wearable computing was practically in the realm of science fiction. Today, it’s already a trend. It may be at the very beginning of its journey, but there is no doubt that there is a lot of hype surrounding it. Smart watches and smart glasses (such as Google Glass), are just some of the products that are meant to capture the hearts of consumers, and to impact their day-to-day lives, and how they use and connect to the Internet.

Here in Israel too there are companies that operate in the field and its various technological aspects. One such company is Everysight, which is controlled by Elbit Systems Ltd. (Nasdaq: ESLT; TASE: ESLT). Elbit is a defense industry company, controlled by Michael Federmann and managed by Bezalel (Butzi) Machlis.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at [email protected].
Thank you.

Sources inform ”Globes” that new investors, with names very familiar in the local financial markets, have joined Elbit on the list of Everysight investors: Meir Shamir, owner of Mivtach Shamir Holdings Ltd. (TASE:MISH), whose main holding is its stake in Tnuva, and LR Group owners Ami Lustig and Roy Ben-Yami. The three bought $5 million dollars’ worth of Everysight preference shares.

Ben-Yami was appointed chairman of the board, alongside three senior Elbit Systems executives: CFO Joseph Gaspar, Aerospace Division General Manager Yoram Shmuely, and VP Asaf Ashkenazi.

Elbit systems is already active in the field, to a certain degree. A few months ago the company launched its wearable flight system, Skylens, which looks like a pair of sunglasses, and provides real-time information that allows pilots to reduce their dependence on airport instrumentation.

Elbit has submitted a trademark application for Everysight in the US, under the class of Computers and Electronics – which includes everything having to do with hardware and wearable computing. It is not inconceivable that technology developed for military and defense purposes will become civilian, and generate additional revenue for the company.

Experts disagree about the potential size of the wearable computing market, but many say that within the next two to three years it will already reach many billions of dollars.

Published by Globes [online], Israel business news – www.globes-online.com

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.