Aeronautics buys Magal s integrated solutions activities
Magal, controlled by FIMI, will now focus on four key areas: energy, logistics, critical infrastructure and correctional facilities.
Israeli unmanned aerial systems developer Aeronautics Group, a unit of Rafael Advanced Defense Systems Ltd., has announced that it is acquiring the integrated solutions (projects) division of Israeli company Magal Security Systems Ltd. (Nasdaq: MAGS; TASE: MAGS), including all the division s global operations and subsidiaries. No financial details were disclosed.
The acquisition will extend Aeronautics Group s operations in the defense, and homeland security markets. The acquisition is expected to be completed in the second quarter of 2021, and is subject to customary closing conditions, including regulatory approvals.