Greenbriar to acquire Arotech for $81m.

Greenbriar, a private equity firm to acquire Arotech, a defense and security company for $81m. Arotech manufactures and designs products for military and non-military air and ground vehicles, interactive simulation for military, law enforcement and commercial markets, and batteries and charging systems for the military. Arotech operates through two major business divisions: Interactive simulation for military, law enforcement and commercial markets, and batteries and power systems for the military. The proposed transaction is subject to, among other customary closing conditions, approval by the holders of a majority of the shares of Arotech common stock. There are no financing contingencies contemplated under the terms of the agreement. Following completion of the transaction, Arotech will become a privately-held company and shares of Arotech’s common stock will no longer be listed on any public market.