Orbit Communications Systems Ltd., an Israeli provider of maritime and airborne SATCOM terminals, tracking ground station solutions, and mission-critical airborne audio management systems announced this week (Monday) that it has entered into an agreement to purchase 100% of the issued and repaid capital of Euclid Systems Engineering Ltd., which specializes in the development of smart, small and lightweight positioners & tracking systems for the defense industries. The acquisition amount was not disclosed.
According to Orbit announcement, 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: “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.”