HAIFA, Israel, 24 Feb. 2011. Israeli electronic warfare specialist Elisra Electronic Systems Ltd. in Bene Beraq, Israel, will become a wholly owned subsidiary of Israeli prime defense contractor Elbit Systems Ltd. in Haifa, Israel, under terms of a $67.5 million deal in which Elbit agreed to acquire 30 percent of Elisra shares from Israel Aerospace Industries (IAI) subsidiary Elta Systems Ltd. in Ashdod, Israel.

With the acquisition, Elbit will own all shares of Elisra. Elbit had owned 70 percent of Elisra's shares. The acquisition was approved by the boards of directors of Elta and Elbit Systems.

Elbit is an international defense electronics company involved in aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (C4ISR), unmanned aircraft systems (UAS), advanced electro-optics, electro-optic space systems, electronic warfare suites, airborne warning systems, ELINT systems, data links and military communications systems and radios.

The Company also focuses on upgrading existing military platforms, developing new technologies for defense, homeland security, and commercial aviation applications, and support services.

For more information contact Elbit online at www.elbitsystems.com, Elisra at www.elisra.com, Elta at www.iai.co.il/17887-en/ELTA, or Israel Aerospace Industries at www.iai.co.il.