Rafael Acquires 49% Share of South Korean Telecom Company

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The two companies are already cooperating, developing and manufacturing C4I systems for the South Korean defense market.

12416186_sRafael signed the acquisition agreement with PineTelecom this week, during the air show taking place this week in South Korea. According to the agreement Rafael will acquire 49% of the company shares, and the two sides will continue cooperating on the development and manufacturing of advanced C4I technologies for the South Korean defense market.

In addition to systems such as Iron Dome, Magic Wand, Trophy, air to air missiles and tactical precision missiles, Rafael develops airborne and ground military communications systems, and airborne C4I systems such as Lightning and Rekalight. The South Korean PineTelecom specializes in developing telecommunication solutions for military and civilian uses, with proven capabilities in the field.

As part of the recent agreement the two companies are to closely cooperate on the development and manufacturing of advanced communications systems for the Korean army, and will share their knowledge and capabilities. The two companies have already worked together on several South Korean projects over the last few years. PineTelecom will continue operating as an independent company and will cooperate with Rafael in the fields of engineering and operations. This cooperation will enhance PineTelecom’s competitiveness in the South Korean and global markets, and will enable it to offer advanced technologies in these markets.

iHLS – Israel Homeland Security

During the signing ceremony held this week at the Seoul air show, Rafael’s General Manager, Maj. Gen. (Res.) Yedidia Yaari said that the agreement follows Rafael’s international strategy of strengthening partnerships with various companies worldwide. “This agreement is a measure of our trust in PineTelecom as a partner in the South Korean market. The two companies believe in the strategy of manufacturing complete systems, and we look forward to working together, sharing our knowledge and expertise to develop the next generation of advanced communications technologies.”

M.H. Yun, one of the owners of PineTelecom, said that “the agreement with Rafael is of strategic importance to us. The cooperation with Rafael will help us realize our vision, to continue developing advanced systems for the Korean army and for international markets, while remaining competitive in those markets.”