Elbit Systems Ltd. (NASDAQ:ESLT), (TTGPF) – Elbit Systems Sells Power And Control Business Of Ferranti In The UK For $12M

  • Elbit Systems Ltd (NASDAQ: ESLT) U.K. subsidiary, Elbit Systems UK Ltd., sold the Power and Control Business of its subsidiary Ferranti Technologies Ltd to TT Electronics (OTC: TTGPF) for ~$12 million in cash.
  • Elbit Systems plans to integrate the remaining business of Ferranti, including training and simulation, avionics, display systems, aircrew survival systems, platform protection, and computing, into Elbit Systems UK.
  • The company noted the reorganization as part of its strategy to focus activities on specific areas to support expanding operations and collaborations in the U.K.
  • Price Action: ESLT shares closed higher by 0.49% at $176.89, and TTGPF higher by 5.86% at $3.25 on Friday.

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