IMCO Group, a defence provider of comprehensive solutions for air, ground, and naval applications announced the acquisition of the assets and activities of Innocon Ltd., an innovative Israeli developer and manufacturer of Micro, Mini and Tactical unmanned aerial systems as well as mission systems for manned light airplanes. IMCO Group acquires Innocon’s assets and activities through one of its subsidiaries who, among other activities, provides unprecedented aerial and aviation capabilities and solutions to meet the challenges of the modern defence, homeland security and civilian markets. Aerial and aviation activities This subsidiary acquired Innocon’s assets and activities for NIS 3 million, plus an additional amount equal to 25% of the subsidiary’s net profit during 72 months from January 1, 2022, and up to a total and cumulative ceiling of NIS 1,750,000. This subsidiary acquired Innocon’s assets and activities for NIS 3 million IMCO Group’s aerial and aviation activities, IMCO’s subsidiary will combine the newly acquired capabilities with the advanced capabilities existing within IMCO Group’s other subsidiaries and utilising IMCO’s global production, project management and marketing capabilities, and Innocon’s unique technology and solutions. Comprehensive defence solutions Eitan Zait, IMCO Industries CEO: “As a leading group in the defence industry, IMCO is pleased to announce that we have completed another step in our expansion strategy and acquired the assets and activities of Innocon, an innovative UAS developer and manufacturer.” “As an integrator of comprehensive defence solutions, we will keep offering our customers affordable and innovative tactical terrain dominance solutions that include the utilisation of unmanned aerial, ground and maritime vehicles, controlled by a central command centre integrating unique advanced software and artificial intelligence solutions.” Founded in 1974, IMCO Industries Ltd is a defence provider of comprehensive solutions for air, ground, and naval applications. Project management capabilities IMCO has been a trusted supplier and partner of the defence industry for nearly five decades With advanced design, global mass production, and project management capabilities, IMCO Group offers unique Tactical Terrain Dominance solutions that offer scalable tactical superiority using unmanned aerial, ground and maritime vehicles equipped with sensors and communication solutions, controlled by a central command centre integrating a unique situational awareness video system. IMCO, together with its subsidiaries, affiliates and partners, provides system-level tactical solutions with unmatched performance for the defence, HLS and security markets. IMCO is the sole supplier of armed forces and defence companies. IMCO has been a trusted supplier and partner of the defence industry for nearly five decades. The company has been involved in generation after generation of some of the most reliable fighting vehicles, including the Merkava tank and the Namer APC.