Orbit Communications Systems Ltd. (TASE: ORBI) has entered into an agreement to purchase 100% of the issued and repaid capital of Euclid Systems Engineering Ltd., a firm that specializes in the development of smart, small and lightweight positioners and 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 customers. The company 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.“