Elbit Systems announced, further to the company’s announcement of 23 December 2020, that its US subsidiary, Elbit Systems of America, completed the acquisition of Sparton Corporation from an affiliate of Cerberus Capital Management, for a purchase price of US$380 million. The closing follows receipt of all the required approvals, including receipt of US government and regulatory approvals. Headquartered in De Leon Springs, Florida, US, Sparton is a premier developer, producer and supplier of systems supporting Undersea Warfare for the US Navy and allied military forces. Bezhalel Machlis, Elbit Systems’ president and CEO, said: “The growing importance of the maritime arena and the market position and technological strength of Sparton make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S. We believe that the completion of this acquisition will be beneficial for both Elbit Systems’ and Sparton’s employees and customers.”
Elit Systems is an international high technology company engaged in a wide range of defence, 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, unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions. The company also focuses on the upgrading of existing platforms, developing new technologies for defence, homeland security and commercial applications and providing a range of support services, including training and simulation systems.