Elbit Systems Ltd. (ESLT) Thursday said it has acquired the Brazilian companies, Ares Aeroespecial e Defesa S.A. and Periscopio Equipamentos Optronicos S.A. The company stated that the acquisition was accomplished in a series of transactions totaling tens of millions Brazilian Reals.
Ares and Periscopio are involved in the area of defense electronic systems and supply a range of products to the Brazilian military as well as to additional markets in South America. Located in the vicinity of Rio de Janeiro, the companies have approximately 70 employees.
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