CEO: Leonardo DRS-RADA Merger on Track to Close Next Month


The merger of Leonardo DRS with Israeli radar maker RADA is on track to close by the end of next month, the company’s CEO tells Defense One. The companies have been going through the regulatory process since announcing the deal in late June. The merger will combine RADA, a public company traded on the NASDAQ, and Leonardo DRS, the wholly owned American subsidiary of Leonardo, the Italian aerospace and defense firm. The resulting public company is expected to be traded on NASDAQ using the ticker symbol DRS. The moves will solidify Leonardo DRS as a “strong mid-tier company,” CEO Bill Lynn said in an interview on the sidelines of the Association of the U.S. Army’s annual meeting in Washington. The combined company will be nimbler than larger firms because it has fewer layers of bureaucracy, Lynn said. That’s a huge advantage at a time when the Pentagon is stressing speed in its weapons procurements as it looks to counter China’s military technology advancements.

Read more on that here:

Related articles

Recent articles