Elbit Systems Completes the Acquisition of Universal Avionics Systems Corporation

Elbit Systems Completes the Acquisition of Universal Avionics Systems Corporation

Elbit Systems Completes the Acquisition of Universal Avionics Systems Corporation

Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) (“Elbit Systems” or “the Company”) announces it has completed the acquisition of the assets and operations of the privately owned U.S. company Universal Avionics Systems Corporation (“Universal Avionics”) for a purchase price of approximately $120 million. 

Headquartered in Tucson, AZ, 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’ commercial avionics systems, enhanced flight vision systems (EFVS) and head-up display (HUD) product line.

The 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 and CEO, says: “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."

For background materials and information regarding Elbit Systems fields of activity, visit http://elbitsystems.com/pr-news-p/.

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