Israel Aerospace Industries (IAI) signed an agreement to acquire INTRACOM DEFENSE (IDE), one of Greece’s leading defense technology companies.
IDE specializes in the production of missile launchers, missile subsystems, tactical land and sea communications, hybrid generation, etc. The company operates in Greece and other NATO countries and maintains defense partnerships with leading companies in the United States and Europe. IDE, as a Greek entity, will be integrated into IAI’s business activities in Greece and Europe, while providing solutions to the challenges faced by the countries of the continent. Following this acquisition, the company’s Greek customers will continue to benefit from the company’s independence, as well as a broader range of services and wider deployment to new markets.
IAI’s CEO, Boaz Levy: “The acquisition of INTRACOM DEFENSE strength IAI’s business capabilities in Greece, and in Europe as a whole. The acquisition of IDE will strengthen and widen activities in Greece, and among NATO countries, and help in promoting wide range of solutions that the company can provide. In view of increasing defense needs across Europe, and in response to the ever-increasing demand for air-defense and UAV’s systems– in which IAI is a recognized world-leader. IAI and IDE share a common vision deriving from our uncompromising business desire for the highest-quality solutions, and have thus cooperated on more than one occasion over the last few years.”
IDE will be integrated into IAI’s business activities in Greece and Europe, while providing solutions to the challenges faced by the continent’s countries.
The acquisition will strengthen and widen activities in Greece, and among NATO countries.
— Israel Aerospace Industries (@ILAerospaceIAI) May 9, 2023
The war in Ukraine has led to accelerated European rearmament, and no defense company wants to be left out of the business. IAI maintains subsidiaries in the UK and Germany, and customers throughout Europe for its maritime, land, air and space systems. Following the acquisition of IDE, IAI’s customers will benefit from the possibility of local production and maintenance on the European continent and the broad portfolio of products that IAI can supply. The Israeli company will focus on promoting in Europe its air and missile defense systems (in particular the ARROW in Germany and the European Sky Shield initiative), and its unmanned aerial systems, whose work has become essential throughout the Ukrainian battlefield.
