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Aeronautics receives acquisition approach
Posted on Thursday, 09 August 2018 14:29
Israeli military-focused unmanned aerial vehicles maker Aeronautics has received a ILS 430.00 million (USD 116.73 million) bid from Rafael Advanced Defense Systems and Avihai Stolero.
The company has said it will study the approach before deciding on an appropriate course of action.
Completion of any transaction would be subject to due diligence being carried out, as well as all required approvals being received and the signing of a definitive agreement.
Aeronautics provides integrated turnkey products based on unmanned systems platforms, payloads and communications for defence and civil applications and the firm claims to be a pioneer in its field.
The company has completed a few acquisitions of its own over the years; according to Zephyr, the M&A database published by Bureau van Dijk, the most recent of these closed in September 2017, when it paid USD 6.00 million for Californian military computer systems player Chassis Plans.
Aeronautics has been publicly-traded since June of last year, when it floated on the Tel Aviv Stock Exchange, raising ILS 599.65 million in the process.
The firm’s leading system, the Aerostar Tactical UAS, is used by 15 customers spanning four continents and has accumulated in excess of 150,000 operational flight hours since 2001.
Zephyr shows there have been 62 deals targeting aircraft manufacturers announced worldwide since the beginning of this year.
Of these, the largest featured a US target as Emerson Tool Company picked up the tools and test equipment business of Textron for USD 810.00 million in early July.
This was followed by a USD 494.00 million public offering of stock by Quebec-headquartered giant Bombarider, which was announced at the beginning of March. The group said proceeds of the deal would be used to supplement its working capital, as well as for other corporate purposes.
Other aircraft manufacturers to have been targeted this year include Airbus, Rostvertol Imeni BN Slyusarya.
© Zephus Ltd