Rafael Advanced Defense Systems has acquired a 50% stake in Israeli aerospace engineering company Kanfit, Rafael announced Tuesday. The deal is valued at tens of millions of shekels, Calcalist reported. Kanfit will now become a subsidiary of Rafael.
Founded in 1986, Kanfit is considered a leading global supplier for UAV components. The company manufactures primary and detailed parts, subassemblies, and ready-to-fly assemblies across the entire production chain. Kanfit’s owners Shai and Shula Fine will keep a 50% stake in the company following the deal, the report added.
Earlier this month, Rafael and Israeli businessman Avihai Stolero completed the acquisition of Israeli drone maker Aeronautics, leading the latter to delist from the Tel Aviv Stock Exchange. The deal, valued at NIS 850 million (approximately $243.5 million), leaves each partner with a 50% stake in Aeronautics.