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IAI and Formula Systems Acquire Israel’s C4I Software Systems House TSG

Thursday, January 14, 2016 3:07

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Defense-Update reports: Israel Aerospace Industries (IAI) and Formula Systems, an Israel based software holding company today announced that they have entered into a definitive agreement for the purchase of TSG – a subsidiary and the military arm of Ness Technologies. Israel Aerospace Industries (IAI) and Formula Systems, an Israel based software holding company today announced that they have entered into a definitive agreement for the purchase of TSG – a subsidiary and the military arm of Ness Technologies, engaged in the fields of command and control systems for all echelons, maritime security, intelligence, air and missile defense, homeland security and Cyber security. The total purchase price in the transaction will be $50 million in cash

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Source: http://defense-update.com/20160114_tsg.html

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