The Aeronautics Group, the developer of Israeli Air Systems, a unit of Rafael Advanced Defense Systems Ltd. , On its acquisition of the Integrated Solutions (Projects) division of Magal Security Systems Ltd. Israel (Nasdaq: MAGS; TASE: MAGS), including all division’s global operations and subsidiaries. He did not disclose financial details. The acquisition will expand Aeronautics Group’s operations in the defense and homeland security markets. The acquisition is expected to be completed in the second quarter of 2021, and is subject to usual closing conditions, including regulatory approvals. Moshe Elazar, CEO of Aviation Group, said: “Along with our cooperation with Rafael and the defense companies of the Stolero Group, the acquisition of the Integrated Solutions division of Magal is an energy multiplier for the entire group, in terms of technology and the range of customers. The acquisition is another step in providing a complete and flexible solution to clients around the world. ”Over the years, the Aeronautics Group has established itself as a leading group in the field of comprehensive integrated solutions for intelligence, monitoring and sensors. We welcome Magal as it has joined the group in a strategic move that combines the pioneering capabilities of aviation and its subsidiaries with Magal’s comprehensive solutions in the field of HLS, continuing to solidify and deepen the group’s specialization in this field. “Over the past 45 years, we have provided custom security solutions and turnkey projects to hundreds of satisfied customers in more than 100 countries, in different markets such as oil and gas, seaports, air ports, critical and safe infrastructure, cities, energy and more,” Bram said. I am convinced that the collaboration between the Integrated Solutions division of Magal and the Aeronautics Group will expand our range of advanced solutions, local support and increase our international presence. “Magal’s strategic decision to sell its projects division will enable the company to focus on providing technology – rich related products, solutions and services in its four core areas: energy, logistics, critical infrastructure, and correctional facilities. These operations provide Magal with the greatest opportunity to increase its security offerings and related markets with Expanding its customer base.Related articles Aviation Science In talks to purchase the Magal Projects division, FIMI is making offers to raise Magal’s stake to 80% after the projects division is sold, Magal, through its headquarters in Israel, will continue to operate Senstar’s product division, with development and manufacturing facilities Located in Canada and sales offices in the United States, Europe, the Middle East, Africa, Asia Pacific, and Latin America for the past twelve months, Senstar’s revenue represented 46% of consolidated Magal’s revenue with a gross profit margin of 64%, compared to the combined gross margin of 45%. Magal’s share price is 2.47% on the Nasdaq at $ 5.10, giving a market value of $ 118.1 million. Magal is controlled by FIMI. Opportunity Funds, which holds a 46% stake in the company. Posted by Globes, Israel business news – en.globes.co.il – Feb 9, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
The aviation industry buys integrated solutions activities for Magal
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