Israeli Elbit Systems buys 2 Brazilian defence firms

TEL AVIV, Dec 30 (BestGrowthStock) – Israeli defence electronics
firm Elbit Systems (ESLT.O: ) (ESLT.TA: ) has acquired the Brazilian
companies Ares Aeroespecial e Defesa SA and Periscopio
Equipamentos Optronicos SA.

The acquisition was carried out in a series of transactions
totaling tens of millions of Brazilian reals, Elbit said on
Thursday.

Ares and Periscopio are involved in the area of defense
electronic systems and supply a range of products to the
Brazilian military as well as to additional markets in South
America.

Located in the vicinity of Rio de Janeiro, the companies
have approximately 70 employees.

The selling shareholders will continue to perform management
functions in the companies following the acquisition.
(Reporting by Tova Cohen; Editing by Jon Loades-Carter)

Israeli Elbit Systems buys 2 Brazilian defence firms