On the technology beat – Investors' Chronicle – Investors Chronicle

Israeli-based technology group MTI Wireless Edge (MWE:51.5p) is realising material benefits from January’s $1.2mn (£1mn) acquisition of a 51 per cent stake in PSK, an Israeli developer, manufacturer and integrator of communication systems and monitoring systems for the country’s defence market.
Buoyed by contract wins including a $10mn award in the summer from the Israeli Ministry of Defence, and last year’s strategic agreement with a [undisclosed] major defence customer, MTI’s Summit electronics division increased operating profit by 40 per cent to $1.8mn on 19 per cent higher revenue of $12.4mn in the first nine months of 2022. Representing 40 international suppliers of radio frequency/microwave components, the addition of PSK is enabling the unit to move up the supply value chain as well as offering turn-key solutions (fixed and mobile communication, telemetry and signal intelligence systems).
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