Leonardo: to merge US subsidiary with RADA

(CercleFinance.com) - Leonardo yesterday announced that its US subsidiary Leonardo DRS and RADA Electronic Industries have entered into a definitive agreement to merge their businesses.


RADA Electronic is a supplier of military tactical radars. The company is a leader in mini tactical radars for critical infrastructure protection, border surveillance, active military protection and counter-drone applications.

RADA's shareholders will own 19.5% of the combined company, which will remain listed on Nasdaq and the Tel Aviv Stock Exchange. RADA currently has a market capitalisation of 579 million de dollars, which would value the new entity at nearly 3 billion dollars, Invest Securities said.


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