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Business/Financial

Elbit Completes Acquisition Of IMI Systems

By Cal Biesecker

Monday, November 26th, 2018

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Elbit Completes Acquisition Of IMI Systems

Israel’s Elbit Systems Ltd. [ESLT] on Sunday said it has completed its $495 million acquisition of IMI Systems, which is also based in Israel, expanding its capabilities in the defense and homeland security space.Terms of the deal include an additional $27 million payment based on IMI meeting certain performance goals.“The synergy between the capabilities of the two companies and the global positioning of Elbit Systems will enable us to offer an enhanced portfolio and to realize the potential of the…

Congress

Baldwin Concerned With Army’s JLTV ‘Mismanagement,’ Seeks Support For Marines’ Procurement Plans

Sen. Tammy Baldwin (D-Wis.) has raised concerns with the “Army’s mismanagement” of the Joint Light Tactical Vehicle (JLTV) program, and is seeking assurance that the Marine Corps can be supported […]

Congress

SASC Cites Concern With Army’s sUAS Approach, Seeks Info On Plans To Scale Fielding

Senate defense authorizers are seeking more info from the Army on its plans for scaling and deploying small drone capabilities citing concern with the service’s current “fragmented and insufficient” approach. […]

SASC Bill Would Raise Amphib Requirement To 33 Ships

The Senate Armed Services Committee’s (SASC) fiscal year 2027 defense policy bill adds new provisions that would raise the Navy and Marine Corps’ minimum requirement for amphibious warships and extend […]

Army

Army Plans To Initiate ISV-Heavy Competition Later This Year, Official Says

The Army is planning to initiate its competition to build the Infantry Squad Vehicle (ISV)-Heavy in the fourth quarter of this year, a senior acquisition official has said. Jesse Tolleson, […]