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IMCO Group acquires Innocon

24th September 2021 - 15:30 GMT | by Shephard News Team

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Turnkey solutions provider IMCO expands into the UAS sector with the acquisition of fellow Israeli firm Innocon.

IMCO Group announced on 23 September that one of its subsidiaries has acquired the assets and activities of Innocon.

The deal is worth NIS3 million ($) plus an additional amount equal to 25% of the subsidiary's net profits during a six-year period starting from 1 January 2022.

The acquisition followed an MoU between IMCO and Innocon in February 2021 to develop UAS solutions for the defence and homeland security markets.

Innocon is known for developing and manufacturing micro-, mini- and tactical UAS as well as mission systems for crewed light aircraft. IMCO will fold these capabilities into its portfolio of turkey air, ground, and naval solutions for the Israeli MoD.

As a result, IMCO stated that it will now be able to provide innovative tactical terrain dominance solutions that include the utilisation of UAVs, UGVs and USVs, controlled from a central command centre integrating various advanced software and AI solutions.