Formula will pay the Apax Investment Fund approximately NIS 240 million in cash, and an additional NIS 60 m.
The ministry said it will deliver 17 radar systems produced by IAI to Slovakia worth about €148 million.
“The Barak system was operationally proven against countless threats, including some of the most challenging ones today."
Slovakia's purchase of 17 IAI-made radar systems was first announced in January as part of a €150 million deal.
A new memorandum of understanding was signed by Israel Aerospace Industries and EDGE, the UAE’s advanced technology group.
The new center will focus on developing and producing navigation systems for the battlefield of the future.
“IAI has long relations with the ROK and the local industries and we are happy to join KAI, one of Korea’s leading companies to explore future opportunities," said IAI’s president & CEO, Boaz Levy.
The company explained that the system features an exceptionally long range of surveillance augmented by multispectral capabilities.
WASP’s coverage area and resolution changes according to its platform and operating altitude.
The exhibition is set to take place from February 21-25.
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