Israel’s RAFAEL Advanced Defense Systems Ltd. on Monday said it and a partner have agreed to acquire Aeronautics Ltd., an Israeli developer and manufacturer of unmanned aircraft systems and platform in a deal that gives it an entrée into unmanned aerial systems space.
The Jerusalem Post reported that the purchase price is $240 million. The acquisition is expected to close this week with RAFAEL owning a 50 percent stake in Aeronautics and Avichai Stolero, a businessman, owning the other half.
Aeronautics makes a range of unmanned aircraft systems (UAS) with its Aerostar Tactical intelligence and surveillance UAS operational on four continents. The company also makes several versions of a small UAS, including one that loiters and is equipped with an explosive payload, a long-endurance UAS, derived from a general aviation platform, and a tethered aerostat system for persistent surveillance.
RAFAEL does have a presence in the unmanned systems space through its PROTECTOR unmanned surface vehicle it offers for naval and security missions.
“We are proud and look forward to working with Aeronautics’ scientists and engineers who bring with them vast experience, knowhow and unique technologies, some of the world’s best,” Yoav Har-Even, president and CEO of RAFAEL, said in a statement. “Connecting those with RAFAEL’s technological richness, proven systems, infrastructure and resources, financial robustness, and most importantly, our excellent human capital, is a force-multiplier, guaranteed to be of high technological and strategic value in helping us reach our goals.”
RAFAEL makes missile systems, airborne targeting and ISR systems, the IRON DOME family of air and missile defense systems, the TROPHY active protection system for military vehicles, tactical missiles, networking equipment, and naval defense systems.