► CONTROP to acquire full ownership of ESC BAZ
18.03.21 – CONTROP Precision Technologies Ltd. (“CONTROP “) , an Israeli EO/IR company , signed an option agreement to acquire full ownership of ESC BAZ (“ESC BAZ”) , an Israeli company specializing in the development and production of smart video and observation systems.
This Acquisition of ESC BAZ is part of Aeronautics Ltd Acquisition of Magal Security Systems Ltd Integration & Program division that was signed on the 7th of February this year .
The acquisition of ESC BAZ will take effect on the Closing date of the agreement signed between Aeronautics and Magal.
The President and CEO of CONTROP, Hagay Azani, commented on the acquisition of ESC BAZ and mentioned that “With over 20 years of experience and many operational systems in the field, ESC BAZ has established itself as a leading provider of unique customer-tailored solutions, offering COST EFFECTIVE products and state-of-the-art technology observation systems for border protection and other HLS applications. “
” CONTROP sees the opportunity to acquire ESC BAZ as a move of “synergy” in the domestic and international markets, which integrates well with the company’s current and future activities in correlation with the business and technological vectors of the Rafael and Aeronautics group.”
CONTROP is a private company jointly owned by Rafael and Aeronautics operating from Hod Hasharon. The company is engaged in the development and manufacturing of advanced systems in the fields of electro-optics for a variety of military applications for border protection and defense. The company’s solutions are installed and operate successfully daily in security systems, homeland defense and observation systems around the world. The company has a wide portfolio of products in the aerial, Ground and Maritime areas of operation. Among the company’s flagship products you can find the following products: Day and night surveillance cameras installed on a wide range of platforms (including UAVs, observation balloons, helicopters, light aircraft, naval patrol boats , remote-operated weapon systems and Automatic intrusion detection systems used to protect borders, beaches, air and sea ports, sensitive facilities and land forces.
The acquisition of Magal’s Integration and Projects Division by Aeronautics as well as execution and realization of the acquisition of ESC BAZ by CONTROP are subject to approval by the Israeli antitrust authority.