Leonardo DRS completed the merger with RADA.

Leonardo DRS, a provider of defense products and technologies, completed the merger with RADA, an Israel-based defense electronics company. Leonardo and RADA shareholders own approximately 80.5% and 19.5%, respectively, of the combined company. Financial terms were not disclosed. "The combination of RADA’s tactical radar capabilities and Leonardo DRS’ strength as a premier mid-tier defense provider make the Combined Company a leader in the rapidly growing force protection market, increases our addressable market, expands international opportunities and ultimately unlocks value for shareholders. The transaction also provides flexibility for the combined company to add capabilities in Leonardo DRS’ core markets through targeted acquisitions and strategic investments as we expect to supplement strong organic growth with M&A and dividend distributions as part of our overall strategy going forward," William J. Lynn III, Leonardo DRS CEO.