Israel finalises sale of IMI Systems
Israel has finalised the sale of state-owned IMI Systems, former maker of the Uzi submachine gun, to defence firm Elbit Systems for $495 million, Elbit said on 25 November.
The government began the process of privatising IMI Systems, formerly known as Israel Military Industries, in 2013.
The $495 million price (1.8 billion shekels) will be supplemented by a further $27 million if IMI meets agreed performance goals, Elbit said in a statement.
Israeli Prime Minister Benjamin Netanyahu welcomed completion of the deal: ‘Today we are at the end of a long and important process that began several years ago. The sale of IMI to Elbit will facilitate the advancement of the Israeli defence industry, will leverage Israel's technological abilities, and will increase defence exports. All of these will directly contribute to the Israeli economy.’
Elbit CEO Bezhalel Machlis said: ‘the synergy between the capabilities of the two companies and the global positioning of Elbit Systems will enable us...to realise the potential of the technologies of IMI in the international arena.’
More from Defence Notes
-
Pentagon’s FY26 defence budget proposal is $130 billion more than US Congress plans to provide
The House Committee on Appropriations approved a FY2026 bill reducing investments in main defence programmes.
-
What role could holographic and 3D capabilities play in the warfare of tomorrow
Holographic and 3D technologies have been lauded by some for their ability to provide technical and operational advantages for military training and planning. But is the hype truly justified?
-
Unfolding the Golden Dome for America: Seven things you should know about the programme
Shephard talked to multiple experts about the most pressing concerns and considerations regarding the air defence system advocated by President Trump.
-
Industry welcomes UK Strategic Defence Review, but pressure remains on future defence investment plans
While industry reception to the SDR has been positive, questions still remain from analyst and trade associations about what this could mean for future investment and the future UK Defence Industrial Strategy.