NETANYA, Israel, Dec. 27, 2021 /PRNewswire/ -- Orbit Communication Systems Ltd. (TASE: ORBI), a leading global provider of maritime and airborne SATCOM terminals, tracking ground station solutions, and mission-critical airborne audio management systems announced today that it has entered into an agreement to purchase 100% of the issued and repaid capital of Euclid System Engineering Ltd., which specializes in the development of smart, small and lightweight positioners & tracking systems for the defense industries.
This transaction is part of Orbit's plans to expand and complete the portfolio of
products that the company currently offers to its customers. Orbit intends to invest in maximizing the synergy between the activities and capabilities that exist in the company today and Euclid's current and future activities.Daniel Eshchar, CEO of Orbit, said: "This transaction is in line with Orbit's strategy for both organic and inorganic growth in the company's core areas, while expanding our product portfolio and solutions to additional content worlds that require precise, small and lightweight positioners systems such as unmanned airborne and satellite applications, sea and land vehicle systems."
About Orbit Communication Systems:
Orbit Communication Systems Ltd. (TASE: ORBI), a leading global provider of airborne communications and satellite-tracking maritime and ground-station solutions, is helping to expand and redefine how we connect. You'll find Orbit systems on airliners and jet fighters, cruise ships and navy vessels, ground stations and offshore platforms. We deliver innovative, cost-effective and highly reliable solutions to commercial operators, major air forces and navies, space agencies and emerging New Space companies.
Orbit is a public company traded on the Tel Aviv Stock Exchange under the control of the Fimi Investment Fund. The company's operations are spread globally, with production, marketing, sales and customer service, including a presence in the US, Europe and the Far East.
For more information, please visit http://orbit-cs.com/
About Euclid System Engineering:
Euclid System Engineering was established in 2006, developing a wide variety of solutions for the defense industry, the motion control market, and customized products.
Euclid specializes in smart positioners & tracking systems and together with Euclid Tracking System USA support a wide range of applications.
Euclid's high-quality positioning systems are ready to use on various field applications and comply with ISO-9001 standard qualified.
Euclid's state of the art positioners and tracking systems combined with RF modules and tracking controllers are in service around the world since 2007 under the most extreme weather conditions.
No comments:
Post a Comment