Israeli Firm Ein Shlishit Partners With US Startup Aelyon, Stock Surges
Translated & summarized from TheMarker by baba
Israeli company Ein Shlishit will create a subsidiary to develop autonomous systems for US startup Aelyon in a deal worth up to $40 million. The agreement includes royalties and an option for Aelyon to acquire the subsidiary. The company's stock saw an 11% increase following the announcement.
The story in 5 lines · by baba
- Ein Shlishit will establish a subsidiary to develop autonomous systems for US startup Aelyon.
- The deal is valued at $40 million, payable in three installments.
- Aelyon has an option to acquire the subsidiary for $20 million or 3% of its shares.
- Ein Shlishit will also receive a 5% royalty on Aelyon's system sales.
- The company's stock rose 11% after the announcement.
Israeli technology company Ein Shlishit announced Tuesday it will establish a subsidiary to develop autonomous systems for the American startup Aelyon. The deal is valued at $40 million, to be paid in three installments, and includes an additional 5% royalty on Aelyon's future sales of the developed systems. Following the completion of the deal, Aelyon will have the option to acquire the subsidiary for $20 million or for 3% of its shares.
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