Direct Computing Group, which controls the IT services company One Technologies, sold about 2.7% of the shares One For a sum of about NIS 108 million. The sale was made at a price of NIS 56.2 per share, which is 8.5% lower than the closing price on the day of the transaction. Following the sale, Direct Computing holds approximately 41% of One Technologies shares, compared to 43.5% previously. The controlling owner of Direct Computing is Adi Eyal, who serves as CEO of both companies.
One Technologies , Traded at NIS 4.3 billion after a 50% increase in the share last year, provides IT services and operates in the solutions and software services, computing infrastructure and managed services sectors. Last year, it completed the acquisition of competitor Taldor in a NIS 250 million cash transaction. Following the acquisition, in the first three quarters of 2021, the company’s revenues amounted to almost NIS 2 billion, a growth of 52.5% compared to the corresponding period in 2020. Net income attributable to shareholders increased by 48.4% and amounted to NIS 92.2 million during this period.
After the current sale, the holding value of Direct computing The shares of Van stand at about NIS 1.75 billion, while the market value of Direct Computing (a 58% increase in the share last year) is lower than the value of their holding in Van, and stands at about NIS 1.1 billion. The controlling shareholder Eyal holds 77% of the company’s shares.
According to a direct computerization announcement to the stock exchange, following the sale of Van shares, the gross surplus before tax from the sale, in the amount of NIS 104 million, will be attributed directly to the company’s shareholders’ equity.
In addition to direct computing, another large sale of shares in Van Technologies was reported this week by Migra Information Systems of Granot Agricultural Cooperative Association – an agricultural-industrial complex of 41 kibbutzim and moshavim. It held about 5.2% of Van’s shares and announced the sale of shares for about NIS 42.2 million. Following the sale, it holds 4.1% of the company’s shares, whose current value reaches NIS 175 million.