HAIFA, Israel, September 18, 2017 /PRNewswire/ --
Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit
Systems") announced today that it will reorganize the business of
CYBERBIT Solutions Ltd., its wholly-owned subsidiary. The defense
Cyber Intelligence and Cyber Security business will be integrated
with Elbit Systems Land and C4I Division and the commercial cyber
business will continue to operate under CYBERBIT Ltd. The
reorganization will become effective as of January 1, 2018.
Elbit Systems recognized a growing demand for Cyber Security and
Cyber Intelligence in the defense sector as the modern battlefield
requirements are shifting from C4I (command, control,
communications, computers and intelligence) to C5I, with the
addition of the cyber dimension. Elbit Systems Land and C4I
Division offers high synergistic value in these areas and many
years of operational experience to best meet these market
needs.
CYBERBIT Ltd's commercial business has grown in the past couple
of years and in order to maintain this growth and to be
customer-oriented to its unique markets (financial sector,
infrastructure security, etc.) the company decided to focus its
commercial efforts under the CYBERBIT brand, which is becoming well
known in this sector.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems,
said, "We are witnessing substantial growth in both the defense
cyber and commercial cyber sectors and we anticipate to further
broaden the activities of each sector separately." Machlis added,
"The reorganization will enable us to better deal with future
challenges of each growing market, to best match our offerings and
to position ourselves as global leaders in each field."
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.
For additional information, visit: http://www.elbitsystems.com,
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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.
Contacts:
Company Contact:
Joseph Gaspar
Executive VP & CFO
Tel: +972-4-8316663
j.gaspar@elbitsystems.com
Dalia Rosen
VP, Head of Corporate Communications
Tel: +972-4-8316784
dalia.rosen@elbitsystems.com
Elbit Systems Ltd.
IR Contact:
Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: +1-646-688-3559
elbitsystems@gkir.com
SOURCE Elbit Systems Ltd.