Elbit Systems to Reorganize the Business of CYBERBIT
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.
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.