Rafael announced on 3 September that its joint acquisition with businessman Avishai Stolero of Israeli unmanned aerial vehicle (UAV) manufacturer Aeronautics will be finalised "in the coming days".
Ownership of Aeronautics will be split evenly between Rafael and Stolero.
Yoav Har-Even, president and CEO of Rafael, said that grafting the engineering and scientific knowledge within Aeronautics onto Rafael's "technological richness, proven systems, infrastructure and resources, financial robustness, and most importantly, our excellent human capital, is a force-multiplier, guaranteed to be of high technological and strategic value in helping us to reach our goals".
Aeronautics will participate in Rafael research and development projects, which is expected to mutually benefit both companies and lead to new opportunities, as they can jointly offer end-to-end capabilities in the low-tier aerial market.
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