Above: PVP AEO’S Advanced EO systems
Rafael Advanced Defense Systems has completed the acquisition of PVP Advanced EO Systems (PVP AEO) through its U.S. subsidiary Rafael USA, Inc. The acquisition was executed under a stock purchase agreement (SPA) transferring 100% of stock to Rafael USA. The transaction was approved under CFIUS review authorization, governed by a national security agreement (NSA).
Prior to the acquisition, PVP AEO was a privately-owned, California-based company, specializing in the development, manufacturing and integration of electro-optical (EO) and infrared (IR) sensor systems for defense and Homeland Security. Recently it has provided Integrated Fixed Towers (IFT) and Mobile Video Surveillance Systems (MVSS) for the US Customs and Border Patrol along the border with Mexico.
“This acquisition is part of RAFAEL’s strategic investments, with the purpose of transferring cutting-edge state-of-the-art technologies, products and systems into the United States in support of U.S. national security”, said Yoav Har Even, RAFAEL’S President and CEO. “Until recently most of RAFAEL’s operations in the U.S. were in partnership with U.S. Tier-1 prime contractors, while the majority of workshare was manufactured in Israel. PVP AEO will complement and enhance engineering and manufacturing capabilities stateside, while strengthening our U.S. supply chain.”
“PVP AEO retains its identity, brand, products, technologies, services, personnel, culture and management,” said Bruce Ferguson, PVP AEO President and CEO. The acquisition of PVP AEO continues a period of growth in USA, which includes: the standing of RSGS, a subsidiary that received its classified clearance earlier this year; the expansion of its C4ATS manufacturing subsidiary and R2S a Joint Venture with Raytheon Technologies.
RAFAEL is an Israeli-based defense contractor, specializing in cutting-edge combat-proven systems, such as the IRON DOME, TROPHY Active Protection System, LITENING Targeting Pod, SPIKE family of tactical missiles, and more. Rafael’s 2021 revenues totaled $3.075 billion. As for January 2022, its order backlog amounted 7.1 billion dollars, equivalent to 2.5 years of sales activity.