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Business/Financial

RAFAEL To Acquire Unmanned Aircraft Systems Manufacturer Aeronautics

By Cal Biesecker

Wednesday, September 4th, 2019

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RAFAEL To Acquire Unmanned Aircraft Systems Manufacturer Aeronautics

Aeronautics Ltd. Aerostar tactical UAS has logged over 250,000 operational flight hours worldwide. Photo: Aeronautics

Israel’s RAFAEL Advanced Defense Systems Ltd. on Monday said it and a partner have agreed to acquire Aeronautics Ltd., an Israeli developer and manufacturer of unmanned aircraft systems and platform in a deal that gives it an entrée into unmanned aerial systems space. The Jerusalem Post reported that the purchase price is $240 million. The acquisition is expected to close this week with RAFAEL owning a 50 percent stake in Aeronautics and Avichai Stolero, a businessman, owning the other half.…

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