:

Israeli Private Equity Firm To Acquire Majority Stake In IAI Satellite Business

By Cal Biesecker

Friday, November 10th, 2017

SHARE:

Israel Aircraft Industries (IAI) on Nov. 6 said that it has agreed to have the private equity firm FIMIinvest $40 million in its satellite imagery services business, ImageSat International (ISI), in exchange for 54 percent stake in the business.Terms of the deal include ISI buying the new EROS C observation satellite from IAI, and for ISI to pay IAI $35 million on the transaction closing date to cover part of the outstanding shareholders' loan.FIMI is the largest private equity fund in Israel.…

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]