IMCO Group Acquires Innovative UAS Capabilities & Activities

By Editor 28-Sep-2021

This acquisition is a further step in IMCO Group’s expansion strategy, offering its customers complete end-to-end defense solutions for air, ground, and naval applications

IMCO Group, a leading defense provider of comprehensive solutions for air, ground, and naval applications, announced the acquisition of the assets and activities of Innocon Ltd., an innovative Israeli developer and manufacturer of Micro, Mini and Tactical unmanned aerial systems as well as mission systems for manned light airplanes.

IMCO Group acquires Innocon’s assets and activities through one of its subsidiaries who, among other activities, provides unprecedented aerial and aviation capabilities and solutions to meet the challenges of the modern defense, homeland security and civilian markets. This subsidiary acquired Innocon’s assets and activities for NIS 3 million, plus an additional amount equal to 25% of the subsidiary’s net profit during 72 months from January 1, 2022, and up to a total and cumulative ceiling of NIS 1,750,000.

Leading IMCO Group’s aerial and aviation activities, IMCO’s subsidiary will combine the newly acquired capabilities with the advanced capabilities existing within IMCO Group’s other subsidiaries and utilizing IMCO’s global production, project management and marketing capabilities, and Innocon’s unique technology and solutions.

Eitan Zait, IMCO Industries CEO: “As a leading group in the defense industry, IMCO is pleased to announce that we have completed another step in our expansion strategy and acquired the assets and activities of Innocon, an innovative UAS developer and manufacturer. As a leading integrator of comprehensive defense solutions, we will keep offering our customers affordable and innovative tactical terrain dominance solutions that include the utilization of unmanned aerial, ground and maritime vehicles, controlled by a central command center integrating unique advanced software and artificial intelligence solutions.”

Founded in 1974, IMCO Industries Ltd. (Tel Aviv Stock Exchange TASE: IMCO) is a leading defense provider of comprehensive solutions for air, ground, and naval applications. With advanced design, global mass production, and project management capabilities, IMCO Group offers unique Tactical Terrain Dominance solutions that offer scalable tactical superiority using unmanned aerial, ground and maritime vehicles equipped with sensors and communication solutions, controlled by a central command center integrating a unique situational awareness video system. IMCO, together with its subsidiaries, affiliates and partners, provides system level tactical solutions with unmatched performance for the defense, HLS and security markets.

IMCO is a sole supplier of armed forces and defense companies. IMCO has been a trusted supplier and partner of the defense industry for nearly five decades. The company has been involved in generation after generation of some of the most reliable fighting vehicles, including the Merkava tank and the Namer APC.