HAIFA, Israel, June 4, 2018 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it's wholly-owned subsidiary, Cyberbit Ltd. ("Cyberbit"), raised a $30 million investment from the private equity investor Claridge Israel L.P. ("Claridge Israel "). Engaged in the cyber security area Cyberbit provides cyber training and simulation solution - Cyberbit Range - and a consolidated detection and response platform that protects an organization's entire attack surface across IT, OT and IoT networks.
This investment will facilitate Cyberbit's ability to take advantage of the rising demand for its product line, as well as expand sales and marketing operations, primarily in North America, enhance customer and partner support and boost development.
Oded Tal, Managing Partner of Claridge Israel, will join Cyberbit's board of directors.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: "We see the cyber security field as a growth engine. We are encouraged by the technological and business achievements of Cyberbit in recent years, led by the rapid adoption of the market leading cyber training and simulation solution - the Cyber Range. I am confident that the partnership with Claridge Israel will lead Cyberbit to even greater achievements."
About Claridge Israel
Claridge Israel is an investment firm focused on growth investments in innovative companies with a technological advantage. The firm was initiated through a partnership between Claridge Inc., the Stephen R. Bronfman Family Office, one of Canada's most reputable family offices and private equity investors, and la Caisse de dépôt et placement du Québec (CDPQ), a global institutional private equity, infrastructure and real estate investor, with net assets of over US$230 Billion (as at December 31st , 2017).
About Elbit Systems
Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.
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This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.
Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.
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