Elbit Eats EORD
Elbit Systems Ltd. is well known for electronics, optronics (El/Op), and of course its UAVs. The firm appears to be strengthening other areas as well, however, by acquiring all shares of Electro Optic Research and Development Company Ltd. (“EORD”) from former shareholders Technion Research & Development Foundation Ltd., and Bynet Electronics Ltd. The purchase price was described as “not material to Elbit Systems,” which reported [PDF format] revenues for year-end 2007 of almost $2 billion, and net annual income of $76.7 million.
EORD is an Israeli company focused on research and development of acoustic and seismic sensors and systems for military and security applications.