Dec 1, 2010
NEW DELHI — Tata Advanced Systems Ltd. (TASL), a Tata Group company, has purchased a 74% stake in Hyderabad-based HBL Elta Avionics — its first defense acquisition.
The purchase price was not disclosed.
The remaining 26% of HBL continues to be held by its partner, ELTA Systems, a unit of Israel Aerospace
Industries (IAI). ELTA Systems has expertise in intelligence, electronic warfare, surveillance and target acquisition.
HBL Elta Avionics, a provider of battery and power systems technology, has diversified into microwave systems and subsystems. The company has built a range of products from 500 MHz to 40 GHz for both military and industrial applications.
TASL provides support in technology sourcing and management, production of defense technology, obsolescence management and project execution. It focuses on homeland security, network-centric warfare, avionics, surveillance technologies and communications.
- Neelam Mathews