March 30, 2009 (FinancialWire) -- Elron Electronic Industries Ltd. (NASDAQ: ELRN) (Current Market Cap: US$70.56 Mil.) said that 3DV Systems Ltd., a company held by Elron and its Rafael Development Corp. Ltd unit, has entered into a definitive agreement for the sale of substantially all of its assets to a third party.

Under the terms deal, Elron expects that it and RDC will get up to around $3 million and $4 million, respectively.

The company said it expects to record a gain of up to around $5 million overall. The transaction is scheduled to close in the second quarter of 2009.

Israel-based Elron Electronic Industries is engaged in the fields of medical devices, information & communications technology, clean technology and semiconductors.

The stock closed at $2.39 on March 27. It has traded between $1.05 and $10.07 over the past 52 weeks.

FinancialWire" ( http://www.financialwire.net ), an independent, proprietary news service of Investrend Communications, Inc., receives no compensation for its news or opinions. Further disclosure is at http://www.investrend.com/articles/secondlevel.asp?level=472 . To contact FinancialWire" write to inquiries@financialwire.net .

Free annual reports for companies mentioned in the news are accessible via http://investrend.ar.wilink.com/?level=279 .

Copyright(C)2009 by financialwire.net, Inc. All rights reserved.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.