Israeli defence company Rafael has made a bid for unmanned systems developer Aeronautics, it has been revealed.
In a disclosure to the Tel Aviv Stock Exchange (TASE) on 9 August, Aeronautics said it had received an offer valuing the company at ILS430 million (USD116.6 million) from Rafael and Israeli entrepreneur Avihai Stolero.
The acquisition is subject to a range of due diligence and anti-trust approvals, according to Aeronautics, as well as the signing of a binding agreement.
Should the acquisition be successful, Aeronautics will be delisted from the TASE and operate as a standalone company.
Aeronautics manufactures a range of unmanned aerial vehicles (UAVs) and loitering munitions, notably with platforms such as the Orbiter family of UAVs and the Orbiter 1K loitering munition. The company also develops and sells the Dominator XP medium-altitude long endurance (MALE) UAV, based on the Diamond DA42 twin-engine utility aircraft.
Significant exports of the company’s systems have included Azerbaijan, where UAVs are assembled through a joint venture with local industry, Romania, and Thailand.
Since it was first listed on the TASE, Aeronautics has acquired US rugged electronics manufacturer Chassis Plans, which was completed in June. The acquisition of Chassis Plans has helped to expand the company’s presence in the United States, while also helping to bring some of the supply chain in-house.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihs.com/contact