Jan 6 2011
Elbit Systems has signed a contract to buy Pearls of Wisdom Advanced Technologies for $18 million. The deal will be carried out by a subsidiary of Elbit Systems.
Based on a road map contracted by Elbit Systems and existing investors, the investment will be executed in various phases over many years.
Israel-based Pearls of Wisdom firm manufactures micro-sensors for intelligence congregation to gain terrain supremacy. Elbit Systems has recently purchased two Brazilian defense firms, Periscopio Equipamentos Optronicos, and Ares Aeroespecial e Defesa. These companies produce defense electronics solutions, and deliver a wide variety of systems to the Brazilian military and other South American markets.