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“Globes” has learned that the defense company DSIT Solutions, controlled by Rafael Advanced Defense Systems, is seeking to take advantage of the surge in interest in the defense market to move forward with an IPO on the Tel Aviv Stock Exchange (TASE) at a company valuation of NIS 200-250 million, before money. The company would hope to raise about NIS 50 million, which will be channeled into the company’s coffers for investment.
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DSIT has developed an underwater surveillance system that detects, classifies and tracks underwater threats, from divers to submarines and ships, intended, among other things, for the protection of strategic assets like communication cables, pipelines, rigs, ports, etc. The company, which was founded over three decades ago, also provides anti-submarine warfare (ASW) systems and underwater communication systems.
Government-owned Rafael has a 50% stake in DSIT, along with businessmen Mani Wasserman and Dany Sides. In 2016, Rafael acquired its controlling stake in DSIT from US energy company Acorn Energy, at a company valuation of $15 million. Two years later, Wasserman and Sides purchased the remaining shares at a similar valuation.
Consolation for missing out as head of the Shin Bet
DSIT president is Vice Admiral (res.) Eli Sharvit, a former commander of the Israel Navy. Sharvit’s name made headlines after Prime Minister Netanyahu announced his appointment as head of the Shin Bet in March, after he began the process of dismissing then-head of the Shin Bet, Ronen Bar. However, Netanyahu withdrew the appointment the next day due to pressure from the right, following Sharvit’s participation in protests against the judicial reform in 2023.
In addition to his role at DSIT, Sharvit serves as chairman of renewable energy company Golden Energy Power, which listed on the TASE last year through a merger with the Internet Gold stock exchange shell.
DSIT CEO is Shmuel Farbiyash, who before his appointment held senior positions in Elbit Systems ICT and Cyber Division.
Published by Globes, Israel business news – en.globes.co.il – on December 22, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
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