Elbit Systems Agrees to Acquire Harris Night Vision for $350M, Bezhalel Machlis Quoted

Elbit Systems of America, the U.S. subsidiary of Elbit Systems Ltd., announced on Friday that it signed an agreement with the Harris Corporation to acquire Harris Night Vision business for $350 million. The transaction is conditioned upon completion of the proposed merger between Harris and L3 Technologies, Inc., customary closing conditions, which includes a receipt of all regulatory approvals.

"The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy with a particular focus on the U.S. Elbit Systems of America which has a proven track record of providing high performance solutions and support services to the U.S. defense and homeland security markets,” said Bezhalel Machlis, president and CEO of Elbit Systems.

Harris has led the industry for over 50 years. Warfighters in the U.S. and globally rely on Harris premier night vision and image intensifier technologies for enhanced threat detection and mission performance. The company produces more night vision devices than its competitors combined and continues working with customers to advance night vision and vision-enhancing capabilities, technologies and performance.

The Harris F5032 Lightweight Night Vision Binocular is the latest innovation in the field to answer the challenges of size, weight and power while also increasing warfighters’ low-light capabilities and introducing the industry’s leading close focus range giving soldiers superior near eye clarity.

About Harris Corporation

Harris Corporation is a leading technology innovator, solving customers' toughest mission-critical challenges by providing solutions that connect, inform and protect. Harris supports government and commercial customers in more than 100 countries and has approximately $6 billion in annual revenue. The company is organized into three business segments: Communication Systems, Electronic Systems and Space and Intelligence Systems.

About Elbit Systems

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 and cyber-based systems and munitions.

The company also focuses on the 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.

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