IAI Acquires Brazil Firm At LAAD 2013

Israel Aerospace Industries (IAI) group and subsidiary ELTA Systems Ltd signed an agreement of investment and cooperation with Brazilian-based electronic company IACIT at LAAD 2013 which is currently underway in Rio de Janeiro.

The agreement, signed by ELTA's subsidiary LARDOSA, includes exchange of knowledge between professional teams, investment in laboratories and factories, intellectual property agreements in both directions and, especially, product support guaranteed by IACIT. 

The agreement also includes training of IACIT personnel for manufacturing, installation and support of ELTA products in the Brazilian market. 

The partnership's target markets are defense and public security projects primarily for the Brazilian market, which may potentially extend to international markets in the future. 


IACIT is a defense electronics company operating in the fields of defense, radar meteorology, control, automation, communication and information technology. 

Joseph Weiss, IAI's President and CEO and ELTA's Chairman, said, "We view Brazil as one of our key markets. Our investement in IACIT is an expression of our enduring committment to support Brazilian customers. We will continue to invest in Brazil also in other segments." 

"This agreement will lead IACIT to an unprecedented technological advancement in the Brazilian industry and will assist us in meeting the important defense projects' needs in Brazil," said IACIT President, Luiz Teixeira. "By relying only on our own technological development, IACIT could not have provided its solutions required by the market on schedule. This partnership increases our portfolio and places the company on a heightened technological level, which otherwise would have required years of excessive investment," Teixeira said.