ELBIT SYSTEMS SUBSIDIARY, CYBERBIT, RAISES $30 MILLION FROM CLARIDGE ISRAEL
Elbit Systems Ltd. (NASDAQ: ESLT and TASE: ESLT) (“Elbit Systems”) announced today that it’s wholly-owned subsidiary, Cyberbit Ltd. (“Cyberbit”), raised a $30 million investment from the private equity investor Claridge Israel L.P. (“Claridge Israel”). Engaged in the cyber security area Cyberbit provides the cyber training and simulation solution – Cyberbit Range and a consolidated detection and response platform that protects an organization’s entire attack surface across IT, OT and IoT networks.
This investment will facilitate Cyberbit’s ability to take advantage of the rising demand for its product line, as well as expand sales and marketing operations, primarily in North America, enhance customer and partner support and boost development.
Oded Tal, Managing Partner of Claridge Israel, will join Cyberbit’s board of directors.
Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems, commented: “We see the cyber security field as a growth engine. We are encouraged by the technological and business achievements of Cyberbit in recent years, led by the rapid adoption of the market leading cyber training and simulation solution – the Cyber Range. I am confident that the partnership with Claridge Israel will lead Cyberbit to even greater achievements.”