Elbit Systems-TORCH-X
Israeli Defense contractor Elbit Systems closed out the month of June with three new business deals collectively valued at more than $800 million. The biggest of these deals was a new $548 million Contract to Supply Multi-Domain Combat Networked Warfare Capabilities to a Country in Asia-Pacific.
Under the contract, Elbit Systems will provide an integrated solution comprising of the ELBIT TIGER-X™ networking middleware; a TORCH-X based suite of airborne, land and ship-borne Command and Control applications; as well as advanced waveforms and a wide range of E-LynX™ Software Defined Radio (SDR) systems including airborne, vehicular, handheld, and shipborne configurations. The program will include extensive co-development efforts and transfer of know-how. These comprehensive combat networked capabilities are intended to improve operational effectiveness, decision making and interoperability across all domains of operation, platforms and systems.
The contract will be performed over a four-year period.
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.
Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: “We witness a growing recognition by Armed Forces of the essentiality of digitization and the capability to conduct interoperable multi-domain operations, especially in light of the lessons learned from recent conflicts. This significant contract award to execute a military-wide networked warfare program further validates the leading position we hold in the growing areas of C4ISR and multi-domain networked warfare.”
This news was announced a day after Elbit Systems was awarded an approximately $220 million contract to supply precision guidance kits for airborne munitions to another nation in Asia-Pacific. The contract will be performed over a period of 15 months. No word on whether or not this is the same country as mentioned previously.
Finally, on the last day of the month, Elbit Systems completed the sale of all ordinary shares held by its wholly-owned Israeli subsidiary, IMI Systems Ltd. (“IMI”), in IMI’s 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd. (TASE: ASHO) (“Ashot”) and all capital notes of Ashot held by IMI and Elbit Systems, to FIMI Opportunity Funds (“FIMI”), for approximately $84 million in cash (approximately NIS 291 million). The closing followed receipt of all the required regulatory approvals.
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The Company also focuses on upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
