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IMCO Industries Acquires EMT Electronics Manufacturing Technology
IMCO Group, a leading defense provider of complex solutions for air, ground, and naval applications has announced the acquisition of EMT Electronics Manufacturing Technologies subject to suspending conditions. EMT specializes in the design, manufacturing, and testing of electronic circuits, and has been acquired for the amount of up to NIS 7 million ($2.1 Million USD), of which NIS 4 million ($1.2 Million USD) will be paid at the closing, and an additional NIS 3 million are subject to future profit. The acquisition furthers the group’s strategy to be a one-stop-shop for customers in the security, defense, medical and civilian fields. With EMT’s proven excellence in the design and production of integrated circuits, IMCO now offers a complete in-house solution, including electronic manufacturing.
Eitan Zait, CEO of IMCO Industries, said “This move is a further step in IMCO Group’s path to provide its customers with complete solutions tailored for customer’s requirements, converging towards Tier-1 customers worldwide. We are glad to announce this expansion, giving us further in-house capabilities of designing and assembling electronic PCBs. EMT is a leader company in the field, and we are convinced it will contribute to our entire group and allow us to continue to lead and provide our customers with complete and advanced turn-key solutions.”
Yaniv Hadar, EMT CEO said, "We are proud and excited to join the IMCO Group, and are confident that our proven excellence for the production and integration of electronic systems and assembly of electronic PCB’s will enable the group to enrich its capabilities and provide its customers with state-of-the-art solutions at the highest standards and technologies. Our rich experience in working with leading customers worldwide, both in the security and civilian fields, enables us to know how to suit the ideal solution for each request."