- India will buy Israel's Spike anti-tank guided missile, rejecting a rival U.S. offer of Javelin missiles that Washington lobbied hard to win.
- The deal for at least 8,000 Spike missiles and more than 300 launchers is worth $525M.
- Spike, a "fire and forget" anti-tank missile, locks on to targets before shooting. It is produced by Israel's Rafael Advanced Defence Systems.
- The rival U.S. system is built by Lockheed Martin (NYSE:LMT) and Raytheon (NYSE:RTN). Defense Secretary Chuck Hagel pitched Javelin to India PM Narendra Modi during his September visit to Washington.
- Source: Reuters