Israel Aerospace Industries (IAI) has announced the signing of a deal to acquire Greece’s leading technology defence company, INTRACOM DEFENSE (IDE). The acquisition will integrate IDE into IAI’s business activities in Greece and Europe, while also providing solutions to the challenges faced by European countries. IDE specializes in the production of missile launchers, missile subsystems, tactical communications for land and sea, hybrid generation, and more. The company is active in Greece, other NATO countries, and has defence collaborations with leading companies in the United States and Europe.
IAI conducts a wide range of collaborative activities throughout Europe, supplying advanced and operationally-proven systems for marine, land, air and space use. The acquisition of IDE will strengthen and widen IAI’s activities in Greece, among NATO countries and help promote a wide range of solutions that the company can provide. IAI’s customers will benefit from the possibility of local production and maintenance on the European continent and from the wide product portfolio that IAI can supply, including the most advanced air defense systems, which are in great demand worldwide.
The acquisition of IDE will also benefit Greece by enabling local industry involvement in upcoming Greek defence-related procurement programmes and positioning the Greek company as a leader in its field. IDE’s Greek customers will continue to benefit from the company’s independence, as well as a larger and more widely deployed range of services for new markets.
IAI’s CEO, Boaz Levy, sees the acquisition of IDE as strengthening IAI’s business capabilities in Greece and in Europe as a whole. The two companies share a common vision for the highest-quality solutions and have cooperated on more than one occasion over the last few years. In view of the increasing defense needs across Europe and the ever-increasing demand for air-defense and UAV systems, IAI and IDE are well-positioned to address these challenges.