Elbit Systems US Acquires Harris’ Night Vision Business for $350 Million
WASHINGTON, the U.S. (BulgarianMilitary.com) – Elbit Systems of America, a subsidiary of Elbit Systems and the Harris Corporation have agreed to move forward with the acquisition of Harris’ Night Vision business for $350 million, learned BulgarianMilitary.com, quoting Defense Update.
The acquisition of Harris’ night vision business opens a huge market for Elbit Systems, both domestic and international. Over 50 years Harris and its predecessors Exelis and ITT have established their night vision systems as the market leader. But with the planned merger between Harris and L3 Technologies, Inc., the night vision systems business becomes redundant under the combined portfolio.
Expected to be completed by mid-year the planned merger between Harris and L3 creates a defense electronics giant worth $33.5 billion, to be ranked sixth in the US market, after Lockheed Martin, Boeing, Raytheon, Northrop Grumman, and General Dynamics. Harris and L3 are both major suppliers of night systems to the US military and Government. One of the two competing lines had to go. With annual revenues around $150-160 million, and solid profit margins, Harris’ night vision portfolio is smaller than L3’s.
Harris has led the night vision industry for over 50 years. According to Harris, the company produced more night vision devices than all competitors combined. Harris Night Vision activity is a remnant of several acquisitions. The first, was in 2011, as Exelis was a spinoff from ITT Corporation, becoming an independent defense company, and in 2015, as Exelis was acquired by Harris.
Among the latest innovations Harris offers are AN/PSQ-20A enhanced night vision goggles, i-Aware Fusion lines, combining third generation night vision, thermal vision and integrated live video display on an advanced headset. Harris is the leading supplier of aviators night vision systems (ANVIS), used by the military. In 2018 the company’s light intensification tubes and ANVIS assembly (AN/AVS-9) was certified by the Federal Aviation Authority (FAA) for civilian use for night flying with fixed and rotary wing aircraft. Elbit Systems’ portfolio provides many complimentary activities, including thermal imaging, weapon sights, soldier systems, day and night helmet mounted aviator displays and pilot sights for combat helicopters. “The market position and technological strength of Harris Night Vision make this acquisition significant to our long-term growth strategy, with a particular focus on the U.S.” Bezhalel (Butzi) Machlis, Elbit Systems President & CEO commented.
Follow us everywhere and at any time. BulgarianMilitary.com has responsive design and you can open the page from any computer, mobile devices or web browsers. For more up-to-date news from us, follow our Reddit, LinkedIn, Twitter and Facebook pages. Do not miss the chance to subscribe to our newsletter.
Author: Tamir Eshel
Source: Defense Update