# Reuters: "Leonardo's DRS to land on Nasdaq with RADA takeover" (21 June 2022) > *This is established-journalism (Reuters) reporting from Milan, 21 June 2022, on the all-stock merger of Leonardo's US-based electronics subsidiary, DRS, with Israel's RADA Electronic Industries — the transaction that brought Leonardo DRS to the NASDAQ and Tel Aviv stock exchanges. It corroborates the corporate-structure facts (DRS is Leonardo's US unit; RADA is an Israeli company; resulting RADA-shareholder stake of 19.5%) and documents another concrete Leonardo-group tie to Israeli defence industry. Relevant to the Arkansas surveillance investigation as background on the corporate parent of the ELSAG ALPR product line.* ## Source metadata - **Publisher:** Reuters (reporting by Federico Maccioni and Gianluca Semeraro; editing by David Goodman and Louise Heavens) - **URL:** https://www.reuters.com/markets/deals/leonardos-drs-agrees-all-stock-merger-with-israeli-rada-2022-06-21/ - **Published:** 2022-06-21 - **Archived:** 2026-06-07 via firecrawl_scrape - **Tier:** 3 (established journalism) ## Extract — verbatim (lightly cleaned) "MILAN, June 21 (Reuters) - Leonardo's (LDOF.MI), opens new tab U.S.-based electronics unit, DRS, has agreed to buy Israel's RADA Electronic Industries , the Italian defence group said on Tuesday, paving the way for the combined business to list on the Nasdaq stock exchange." "Shares in Leonardo rose as much as 9.7% on the news, making it the top performer in Milan's blue-chip index (.FTMIB)." "Under the agreement, DRS will acquire 100% of the Israeli maker of tactical radar equipment, with current RADA shareholders then taking a 19.5% stake in the combined business." "The all-stock takeover comes at a time when the war in Ukraine and the vulnerability to drone attacks highlights the need for modern force protection systems, DRS Chief Executive William J. Lynn III told analysts." "At the closing of the transaction, expected in the fourth quarter of this year and forecast to have a minimal impact on Leonardo's 2022 guidance, DRS will be listed on the Nasdaq and Tel Aviv stock exchanges, Leonardo added." "Leonardo postponed an initial public offering (IPO) of a minority stake in DRS last year, citing uncertainty over U.S. defence spending and investor concern about rising interest rates."