ELBIT SYSTEMS LTD

Elbit Systems was founded in 1966 by Elron Electronic Industries and the Israel's Ministry of Defense, under the name 'Elbit Computers Ltd.', to develop computers and electronics for the Israeli military, its first product was a minicomputer named ' Elbit 100 [ fr ] '. The minicomputer was successfully sold for civilian use, and in July 1970 the American company Control Data Corporation entered into an agreement to acquire the Israeli government's interest in Elbit Computers for US$1 million. Control Data Corporation marketed and distributed Elbit Computers' around the world.

In 1978 Elbit had an initial public offering on the Tel Aviv Stock Exchange and continued to develop minicomputers, including a model called ANAT, that was developed and sold in corporation with German company Nixdorf Computer. During the early 1980s the company refocused on defense electronics and developed systems and sub-components for the Lavi fighter jet and for the Merkava tank. The company also changed its name from 'Elbit Computers Ltd.' to 'Elbit Ltd.' and Control Data Corporation sold its stake in the company.

In 1996, Elbit was spun off into three independent companies: Elbit Medical Imaging, Elbit Systems, and Elbit. From 1999 to 2000, Elscint (another affiliate of Elron) and Elbit Medical Imaging sold their imaging activities to General Electric Medical Systems and Picker. Elbit Systems was created as the defense electronics arm of the company. Elbit, which focused on communications activities, led the consortium that founded Partner Communications Company in 1999.

In 2000, Elbit Systems merged with El-Op (then controlled by current Elbit chairman, Michael Federmann ), creating the largest non-governmental defense electronics company in Israel. Elron sold its shares in Elbit Systems for approximately $197 million in 2004. Following the merger with El-Op, Federmann became the largest shareholder of the combined group. [ citation needed ] Following its merger, Elbit acquired Elisra, assets of Israel Military Industries ' Aircraft Systems Division, and Mikal Ltd. Elbit subsequently announced a cash tender offer for the 12.15% remainder of ITL Optronics Ltd held by the public.

In 2002, Elbit was merged into Elron.

In 2006, Elbit acquired 20% of Chip PC Technologies, a developer and manufacturer of client solutions for server-based computing. In 2016, Elbit launched Everysight, a developer and manufacturer of an augmented reality smartglasses for cyclists, founded in 2016.

In 2016, The Intercept reported that, starting in 2008, the US National Security Agency and UK GCHQ had been tapping into live feeds from Elbit drones (among other Israeli air force equipment) as they were flown on missions by the Israeli military and air force against targets in Gaza, the West Bank, Syria, and Lebanon.

In November 2018, Elbit completed its acquisition of IMI Systems.