Elbit Systems announced the acquisition of Rokar International from BAE Systems (U.S. subsidiary of BAE Systems) for approximately $31 million in cash. Jerusalem based Rokar specializes in the development, manufacture, integration, and support of high-end GPS receivers and guidance systems for advanced defense applications.
Elbit’s President & CEO, Bezhalel Machlis, said that Rokar’s technologies are already integrated in Elbit’s solutions. “There is an increasing demand for networked precision fire solutions. The acquisition will enhance our capabilities in this growing area of activity.”
Rokar provides GPS solutions for space, air, land, and naval platforms, and hardened GPS solutions for rockets, smart munitions and projectiles, planned to perform in challenging conditions such as radiation, shocks resistance, high-dynamic maneuvering, and jammed environments. BAE’s Rokar developed BAE’s Silver Bullet guidance kit, that gives 10 meter target hit precision for standard 155mm artillery shells. The Rokar Silver Bullet guidance system is designed to transform an artillery shell into a highly accurate munition.
According to Dun and Bradstreet, Rokar has 120 employees in Jerusalem and it generates $US16 million in annual sales. Elbit’s revenues in 2020 were $4,662.6 million, as compared to $4,508.4 million in the year ended December 31, 2019. The majority of the revenues in 2020 generated by the airborne systems and land systems divisions.
Backlog of orders for the year ended December 31, 2020 totaled $11,024 million, as compared to $10,029 million as of December 31, 2019. Approximately 65% of the current backlog is attributable to orders from outside Israel. Approximately 65% of the current backlog is scheduled to be performed during 2021 and 2022.