HAIFA, Israel, June 25, 2019 /PRNewswire/ -- Elbit
Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit
Systems") announced today that its subsidiary, BrightWay
Vision Ltd. ("BWV"), raised a $25
million investment from Koito Manufacturing Co, Ltd. (TYO:
7276) and Magenta Venture Partners, following which they will hold
approximately 38.5% of BWV's shares, on a fully diluted basis.
BWVs' patented system, BrightEye™, uniquely combines sensing and
laser illumination technologies for the automobile industry, to
generate a clear long-range image of the road ahead at night and in
low visibility conditions while also detecting objects in the
vehicle path thus enabling effective hazard alerts, collision and
other safety warnings.
About Koito
Under the corporate message, 'Lighting for Your Safety', Koito
Manufacturing Co., Ltd (Koito) has been marking a history of
leadership in automotive lighting since its establishment in 1915.
Today, the Koito Group consists of 32 companies located in 12
countries worldwide and provides products and services to customers
all over the world, through the global network led by five major
regions (Japan, North America, Europe, China, and Asia.) Its products, recognized for its high
quality and advanced technology, are widely used by automotive
makers worldwide. The company is responding to the future
transformation of mobility through the development of
next-generation lighting technologies and related equipment,
control systems, and environmentally friendly products, materials,
and production methods.
For more information, please visit www.koito.co.jp/english
About Magenta Venture Partners
Magenta Venture Partners is a venture capital firm focused
exclusively on Israeli and Israeli-related early stage technology
startups across multiple categories including Automotive, Mobility,
Enterprise Software, IoT, Industry 4.0, Artificial Intelligence,
Fintech, and Digitalization. Magenta seeks to partner with the best
Israeli entrepreneurs and work with them towards building
significant global companies. Magenta is backed by prominent
Japanese institutional and strategic investors, including Mitsui
& Co. Ltd., all with strong global reach in multiple domains
across a wide range of industries. The fund is led by four seasoned
professionals with significant global experience in high-tech,
startup investment, and corporate business development. For more
information, please visit www.magenta.vc
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, 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:
www.elbitsystems.com, follow us on Twitter or visit our
official Youtube Channel.
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.
Company
Contacts:
Joseph Gaspar,
Executive VP & CFO
Tel:
+972-4-8316663
j.gaspar@elbitsystems.com
David Vaaknin,
VP, Head of Corporate Communications
Tel:
+972-77-2946691
David.Vaaknin@elbitsystems.com
Elbit Systems
Ltd.
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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