Israel Aerospace Industries (IAI) has signed a deal to acquire HELA Systems Private Limited. IAI’s investment in HELA is strong evidence of IAI’s support for the Indian government’s Atmanirbhar Bharat (Make in India) vision. The current transaction also demonstrates IAI’s commitment to its strong partnership with India’s DRDO in the development and support of advanced systems for the Indian Armed Forces.
HELA will provide full maintenance, repair and overhaul support for the IAI Systems ELTA unit, as well as testing and technical services including annual maintenance contracts and supply of spare parts to Indian defense customers. The company has a large facility in the fast growing industrial belt of Hyderabad. HELA’s management and technical team consists of radio and microwave specialists, who are familiar with cutting-edge technologies and working on future military applications. The HELA team is well versed in industry standards relevant to serving the Indian Armed Forces as well as other Indian defense organisations.
Boaz Levy, President and CEO of IAI, said, “IAI conducts a wide range of collaborative activities and acquisitions around the world as part of the corporate strategy. IAI provides advanced, operationally proven systems for use and works closely with the Indian Armed Forces to develop and produce technologies Over the past 30 years, IAI has built close partnerships in India to develop and provide Indian customers with a variety of strategic platforms, including air and missile defense systems, unmanned aerial systems, satellites, radars and training platforms.”
ELTA Vice President and CEO Yoav Turgeman added, “The acquisition of HELA Systems reflects our strategic shift to provide fast direct access to superior ELTA solutions in full support of India’s Atmanirbhar Bharat vision of self-reliance. HELA leverages the highest technology, innovation and knack to achieve even customer satisfaction Clients are able to focus on their mission. IAI has long-standing operations in India, working with many partners and clients in the Indian market.”
IAI’s latest systems and technologies have been used in operations in the three military arms of India and with other government agencies. ELTA Systems is one of the leading defense electronics companies in Israel with extensive experience in intelligence, electronic warfare, surveillance and target acquisition.
Published by Globes, Israel business news – en.globes.co.il – on July 9, 2023.
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