HAIFA, Israel, May 19, 2020 /PRNewswire/ -- Elbit Systems
Ltd. (NASDAQ: ESLT) and (TASE:
ESLT) ("Elbit Systems") announced today that
Charlesbank Technology Opportunities Fund, a fund managed by
Charlesbank Capital Partners ("Charlesbank"), invested
approximately $70 million in Elbit
Systems' Israeli subsidiary, Cyberbit Ltd. ("Cyberbit"), of
which approximately $22 million was
invested in Cyberbit and approximately $48
million was paid in consideration of a portion of Elbit
Systems' shares in Cyberbit. As a result of the investment
and sale of equity holdings, Elbit Systems became a minority
shareholder in Cyberbit. Claridge Israel
L.P., an existing shareholder of Cuberbit, which invested
$30 million in Cyberbit in
June 2018, also participated in this
round of investment.
Cyberbit is engaged in commercial training systems for
cybersecurity teams.
Bezhalel (Butzi) Machlis, President and CEO of Elbit
Systems, commented: "Preparing the human element for
cyber-attacks is one of the most acute cybersecurity challenges.
The investment of Charlesbank in Cyberbit is a recognition of
Cyberbit's market-leading position and the growth potential of
Cyberbit's training platform – the Cyber Range. I am confident that
this investment will allow Cyberbit to realize its full growth
potential."
About Cyberbit Ltd.
Cyberbit is a market-leading provider of cyber range platforms
for training cybersecurity professionals. Cyberbit Range addresses
one of the most acute cybersecurity problems: preparing the human
element for attacks. The product delivers a hyper-realistic
experience, that replicates a real-world cyberattack by immersing
trainees in a virtual SOC, where they use commercial security tools
to respond to live, simulated attacks. As a result, it dramatically
increases SOC team performance, improves teamwork, and improves
evaluation, hiring, and certification processes. The Platform
delivers over 100,000 training sessions annually across 5
continents. Customers include leading Fortune 500 companies, MSSPs,
system integrators, academies and governments. Cyberbit is
headquartered in Israel with
offices in the US, Europe, and
Asia. For more information visit
www.cyberbit.com
Follow Cyberbit
on Facebook, LinkedIn and Twitter (@CYBERBITHQ)
About Charlesbank Capital Partners
Based in Boston and
New York, Charlesbank Capital
Partners is a middle-market private equity investment firm managing
more than $6 billion of capital.
Charlesbank focuses on management-led buyouts and growth capital
financings and also engages in opportunistic credit and technology
investments. The firm seeks to partner with strong management teams
to build companies with sustainable competitive advantage and
excellent prospects for growth. For more information, please visit
www.charlesbank.com
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 and munitions. 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.
For additional information, visit: https://elbitsystems.com/,
follow us on Twitter or visit our official Facebook,
Youtube and LinkedIn Channels.
This press release may contain forward‑looking statements
(within the meaning of Section 27A of the Securities Act of 1933,
as amended, Section 21E of the Securities Exchange Act of 1934, as
amended and the Israeli Securities Law, 1968) regarding Elbit
Systems Ltd. and/or its subsidiaries (collectively the Company), to
the extent such statements do not relate to historical or current
facts. Forward-looking statements are based on management's current
expectations, estimates, projections and assumptions about
future events. 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,
uncertainties and assumptions about the Company, which are
difficult to predict, including projections of the Company's future
financial results, its anticipated growth strategies and
anticipated trends in its business. 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; changes in global health and
macro-economic conditions; differences in anticipated and actual
program performance, including the ability to perform under
long-term fixed-price contracts; changes in the competitive
environment; 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. Although the Company
believes the expectations reflected in
the forward-looking statements contained herein are
reasonable, it cannot guarantee future results, level of activity,
performance or achievements. Moreover, neither the Company nor any
other person assumes responsibility for the accuracy and
completeness of any of these forward-looking statements.
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.
Contacts:
Company
Contact:
Joseph Gaspar,
Executive VP & CFO
Tel:
+972-4-8316663
j.gaspar@elbitsystems.com
Rami Myerson,
Director, Investor Relations
Tel:
+972-77-2948984
rami.myerson@elbitsystems.com
David Vaaknin,
VP, Brand & Corporate Communications
Tel:
+972-77-2946691
david.vaaknin@elbitsystems.com
|
IR
Contact:
Ehud
Helft
Kenny
Green
GK Investor
Relations
Tel:
1-646-201-9246
elbitsystems@gkir.com
|
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SOURCE Elbit Systems Ltd.