Economy
U.S. defense firm Andes acquires Israeli GATE for 205 million dollars
Andes, the American defense-tech company that recruited Dadi Barnea and additional Israeli security officials, continues acquiring Israeli companies: purchasing GATE Technologies, manufacturer of electronic warfare systems, and its European partner Baron Technologies in a deal that could reach 390 million dollars.
· Source: Walla. Photo as published in article
American defense-tech firm Andes is acquiring Israeli company GATE Technologies and its European partner Baron Technologies, operating in Poland, for 205 million dollars. According to reports, the amount could grow by 185 million dollars if performance targets are met by the end of 2028, bringing total compensation to 390 million dollars.
GATE Technologies, founded in 1996, specializes in developing, manufacturing and licensing advanced electronic warfare systems. According to reports, the company's products are integrated into dozens of weapons systems worldwide, including missiles, rockets, unmanned aircraft and loitering munitions, and is also involved in the Iron Dome project. Arming systems are designed to keep ammunition in a safe state during storage, transport and launch, and enable its use only after specified conditions have been met.
Eric Brooke, chairman and CEO of Andes, said that 'GATE is a strategic addition to Andes,' adding that 'demand for precise and autonomous attack systems is growing.' Lt. Col. Ushri Logasi, who manages Andes' operations in Israel and previously served as chief engineering officer and deputy CEO at Rafael, said that 'electronic warfare systems are central components in precision weapons systems.'
Andes is a publicly traded holding company on Nasdaq valued at 4.1 billion dollars, down 25 percent since the beginning of the year, and Israeli security officials, headed by Dadi Barnea, former Mossad chief, have joined its ranks. According to reports, in the past year the company acquired Aerobotix, Omnisys, Bird Aerosystems, Robotim, Sentrix and Indo from Israel. According to MarketsandMarkets market research, the global loitering munition market is expected to grow from about 5.4 billion dollars in 2025 to about 13.3 billion dollars in 2030.
