Report: Israeli UAV firm agrees deal for unnamed US company

17 July 2017

Israeli unmanned aerial vehicle (UAV) company Aeronautics has reached a deal to buy an unnamed American firm, Israel's Globes reported on 17 July. The publication reported that Aeronautics disclosed the deal to the Tel Aviv Stock Exchange, citing a cost of USD6 million for the acquisition.

The report said that the acquisition would allow the company to continue using funds tied to US Foreign Military Financing. One of the changes to the most recent aid package, agreed at the end of 2016 with the outgoing administration of President Barack Obama, was the elimination of an exception that allowed Israel to use some of the funding domestically.

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