Haifa, Israel-based Elbit Ltd was a significant force in computers in the late 1970s and early 1980s, but efforts to establish its personal computers and technology on the international market ultimately failed, and the company withdrew to its home market and devoted most of its resources to the defence electronics sector. But new Israeli networking systems and equipment companies have succeeded in making it on the world stage where Elbit failed, and the company wants to grab a piece of the action. Accordingly, on Friday it announced that it is to acquire Fibronics International Inc; the bid – of one Elbit share for every 20 Fibronics, has been approved by the board of Fibronics. Elbit is already affiliated with Fibronics through Elron Electronics Industries Ltd, which owns about 42% of Fibronics and 39% of Elbit. Pembrooke, Massachusetts-based Fibronics manufactures a wide range of hubs and other networking products, and it also offers network management software.
