June 4, 2018 / 6:46 AM / a year ago

Elbit Systems' Cyberbit unit raises $30 mln from Claridge

TEL AVIV (Reuters) - Israeli defence electronics contractor Elbit Systems (ESLT.TA) (ESLT.O) said on Monday its wholly owned subsidiary Cyberbit raised $30 million from private equity investor Claridge Israel.

Cyberbit provides cyber training and simulation technology as well as detection of cyber attacks and response.

This investment will facilitate Cyberbit’s expansion of its sales and marketing operations, primarily in North America, enhance customer and partner support and boost development, Elbit said in a statement.

“We see the cyber security field as a growth engine,” Elbit CEO Bezhalel Machlis said.

Reporting by Tova Cohen; Editing by Tova Cohen

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