DEFEA 2023 | Intracom Defense at Israel’s IAI
Defence Redefined
Published on 09/05/2023 at 14:51

The acquisition of the Greek company IDE by the Israeli defence company IAI was officially announced in the context of DEFEA 2023.

After many months of negotiations, the sale of Intracom Defense (IDE), a subsidiary of Intracom Holdings, to Israel Aerospace Industries (IAI) for 60 million euros has finally been realized. The sale concerns 90.91% of the company’s shares and is estimated to be completed within the second quarter of 2023.

According to a relevant announcement, INTRACOM HOLDINGS announced that INTRACOM TECHNOLOGIES S.a.r.l, a subsidiary of the INTRACOM HOLDINGS Group, signed a binding agreement with ISRAEL AEROSPACE INDUSTRIES Ltd (IAI) for the sale and transfer of 90.91%, i.e. 23,103,305 Registered Shares of INTRACOM DEFENSE (IDE), a Greek company with a long-term international presence and notable export activity in the field of Defence systems.

It is noted that the remaining 9.09% of IDE shares belongs to top and senior executives of IDE. The value of the transaction amounts to approximately 60 million and is expected to be completed within the second quarter of 2023, provided that the stipulated terms and conditions have been met and the necessary approvals have been granted.

Israel Aerospace Industries or IAI is Israel’s aerospace and aviation manufacturer, producing aerospace systems for both military and civilian use. IAI is fully controlled by the Israeli government and, together with the Rafael company, they have built Israel’s Iron Dome air defence system, one of the most efficient on an international level.

It is recalled that Israel Aerospace Industries (IAI) has a contract with Intracom Defense for the supply of an integrated Hybrid Power Supply System, based on the advanced Hybrid Electric Power Systems (HEPS) technology, so it is already very well aware of IDE products.

Also read: Intracom Defense | Expands collaboration with Raytheon Missiles & Defense




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