BrightWay Vision Ltd., the Haifa, Israel-based subsidiary of Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT), received a $25m investment.
– Koito Manufacturing Co, Ltd. (TYO: 7276) and
– Magenta Venture Partners,
which will now hold approximately 38.5% of BWV’s shares, on a fully diluted basis.
BWV has developed BrightEye™, a patented system which uniquely combines sensing and laser illumination technologies for the automobile industry, to generate a clear long-range image of the road ahead at night and in low visibility conditions while also detecting objects in the vehicle path thus enabling effective hazard alerts, collision and other safety warnings.
Elbit Systems is an international high technology company engaged in a wide range of defense, homeland security and commercial programs throughout the world. The company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance (“C4ISR”), unmanned aircraft systems, advanced electro-optics, electro-optic space systems, EW suites, signal intelligence systems, data links and communications systems, radios, cyber-based systems and munitions.
It also focuses on the upgrading of existing platforms, developing new technologies for defense, homeland security and commercial applications and providing a range of support services, including training and simulation systems.