Rafael deepens EO presence in US
Rafael Advanced Defense Systems has completed the acquisition of PVP Advanced EO Systems Inc through its US-based subsidiary Rafael USA.
The acquisition was executed under a stock purchase agreement, whereby 100% of the stock was transferred to Rafael USA.
PVP Advanced EO Systems specificities in the development, manufacturing and sustainment of EO systems for air, land, sea and critical homeland security applications.
Recent programmes the company undertook include Integrated Fixed Towers and Mobile Video Surveillance Systems for US Customs and Border Patrol on the southern border.
Although the details of the acquisition have not been released, the company information database Buzzfile estimates that PVP Advanced EO Systems generates $14.7 million in annual revenues.
Yoav Har Even, President and CEO at Rafael, commented on the acquisition’s importance: ‘Until recently… the majority of workshare was manufactured in Israel. PVP AEO will complement and enhance engineering and manufacturing capabilities stateside’.
The acquisition of PVP AEO follows a period of growth for Rafael USA during which time a subsidiary received its classified clearance, its C4ATS manufacturing subsidiary expanded and it entered into a JV with Raytheon called R2S.
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