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Elbit Expands Cybersecurity Business With $158 Million Deal

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Israel’s biggest publicly-traded defense company, Elbit Systems Ltd., bought a cybersecurity business three days after its chief executive officer said that industry has become a priority.

Elbit agreed to pay Nice Systems Ltd. as much as about $158 million for its cyber solutions and intelligence division, according to a filing to the Tel Aviv Stock Exchange on Thursday. The company will merge the acquisition with its recently created subsidiary, Cyberbit Ltd.