GE has bought Magna, an Israeli electronics manufacturer, for $860 million, the Wall Street Journal reported.

GE bought Magnala from Israeli entrepreneur Arav Harel in July.

Magna is based in Israel and sells products to U.S. companies including Boeing, Siemens and Lockheed Martin.

The company is led by former Israeli Prime Minister Benjamin Netanyahu.

It employs about 2,000 people in Israel, the United States and the United Kingdom, according to the WSJ.

The Israeli company has also been a partner of Israel Aerospace Industries, which is a major military contractor for Israel and the U.K. In 2018, Magna reported $1 billion in sales, with a market value of about $40 billion, the Journal said.

Last year, Magná had revenue of $3.6 billion.

Forbes, which tracks the fortunes of wealthy Americans, ranked Magna at No. 50 on its list of the world’s 100 richest people.

Magnana is based out of Tel Aviv and sells its products to a number of U.L.M.S., Hewlett-Packard and Toshiba.