Elbit Bags $548M Contract In Asia-Pacific; Completes Sale Of Ashot

Elbit Systems Ltd ESLT has secured a contract valued at $548 million to supply military-wide multi-domain combat networked warfare capabilities to the Armed Forces of a country in Asia-Pacific.
ESLT, which is engaged in networked warfare programs in several countries, will perform the contract over a four-year period. The program will include extensive co-development efforts and the transfer of know-how.
"This significant contract award to execute a military-wide networked warfare program further validates the leading position we hold in the growing areas of C4ISR and multi-domain networked warfare," commented CEO Bezhalel (Butzi) Machlis.
Also Read: Elbit Systems Secures $220M Contract To Supply Precision Guidance Kits
Separately, Elbit also disclosed the completion of the sale of all ordinary shares held by its Israeli subsidiary, IMI Systems Ltd., in IMI's 84.98%-owned subsidiary, Ashot Ashkelon Industries Ltd., and all capital notes of Ashot held by IMI and Elbit, to FIMI Opportunity Funds, for ~$84 million in cash.
Price Action: ESLT shares are trading higher by 5.45% at $230.51 on the last check Thursday.