LONDON: MTI Wireless Edge. (AIM: MWE), a technology group specializing in communication and radio frequency solutions, announced Tuesday that its subsidiary MTI Summit Electronics Ltd. has increased its ownership in P.S.K Wind Technologies Ltd. (PSK) through a new equity investment of 600,000 Israeli shekels (approximately $170,000).
Following the investment, MTI Summit now holds a 60% stake in PSK, up from 51%. The move comes as PSK shows signs of recovery after challenges in 2024, supported by a strong order backlog and growing opportunities in defense.
In its 2024 year-end results, MTI noted that PSK had secured an $800,000 defense contract in April 2025, reflecting increased government defense spending. The company expects PSK to return to growth this year.
MTI initially acquired a 51% stake in PSK in January 2022, with an option to purchase the remaining 49% starting in 2027. The latest investment modifies the option terms, reducing the vendors’ stake to 40%.
CEO Moni Borovitz said the investment reflects confidence in PSK’s potential, bolstered by rising global defense budgets.
PSK, which develops communication and monitoring systems for defense markets, reported 2024 unaudited revenue of $3.7 million but a loss of $800,000. MTI expects no material financial impact from the increased stake.
The company will reassess goodwill and contingent liabilities related to PSK later this year.
MTI Wireless Edge, headquartered in Israel, provides RF and antenna solutions for industrial, medical and defense applications.