Nasdaq-listed Elbit Systems Ltd has informed that its wholly-owned Israeli subsidiary, Elbit Systems Land and C4I-Tadiran Ltd. ("ESLC-T") acquired all of the shares of Shiron Satellite Communications Ltd., a privately-owned Israeli company, for a purchase price of $16 million.

Shiron is engaged in the broadband communication market. Its solutions are suited for the growing interactive multimedia broadband satellite market. 

Elbit Systems Ltd. is an international defense electronic company engaged in a wide range of defense-related programs throughout the world. Shiron's InterSKY satellite communications system provides broadband satellite services to remote locations. At 9:40 am, Elbit Systems was quoting at $41.20, up $0.47, or 1.15%. It has touched an intraday high of $41.80 and an intraday low of $41.20.