Elbit Systems to Reorganize the Business of CYBERBIT

HAIFA, Israel, September 18, 2017 /PRNewswire/ --

Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems") announced today that it will reorganize the business of CYBERBIT Solutions Ltd., its wholly-owned subsidiary. The defense Cyber Intelligence and Cyber Security business will be integrated with Elbit Systems Land and C4I Division and the commercial cyber business will continue to operate under CYBERBIT Ltd. The reorganization will become effective as of January 1, 2018.

Elbit Systems recognized a growing demand for Cyber Security and Cyber Intelligence in the defense sector as the modern battlefield requirements are shifting from C4I (command, control, communications, computers and intelligence) to C5I, with the addition of the cyber dimension. Elbit Systems Land and C4I Division offers high synergistic value in these areas and many years of operational experience to best meet these market needs.

CYBERBIT Ltd's commercial business has grown in the past couple of years and in order to maintain this growth and to be customer-oriented to its unique markets (financial sector, infrastructure security, etc.) the company decided to focus its commercial efforts under the CYBERBIT brand, which is becoming well known in this sector.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, said, "We are witnessing substantial growth in both the defense cyber and commercial cyber sectors and we anticipate to further broaden the activities of each sector separately." Machlis added, "The reorganization will enable us to better deal with future challenges of each growing market, to best match our offerings and to position ourselves as global leaders in each field."

About Elbit Systems  

Elbit Systems Ltd. is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The Company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance ("C4ISR"), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios and cyber-based systems. The Company also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.

For additional information, visit: http://www.elbitsystems.com, follow us on Twitter or visit our official YouTube Channel

This press release contains forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current fact. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results, performance and trends may differ materially from these forward-looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States among others; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward-looking statements speak only as of the date of this release. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this Press Release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies. All other brand, product, service and process names appearing are the trademarks of their respective holders. Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

Contacts:
Company Contact:   

Joseph Gaspar
Executive VP & CFO
Tel: +972-4-8316663
[email protected]  

Dalia Rosen
VP, Head of Corporate Communications
Tel: +972-4-8316784
[email protected]
Elbit Systems Ltd.

IR Contact: 

Ehud Helft
Gavriel Frohwein
GK Investor Relations
Tel: +1-646-688-3559
[email protected]

SOURCE Elbit Systems Ltd.