A big deal for Ness Technologies, owned by the public secular company. Hilan, which is controlled by Avi Baum, reported this morning (Tuesday) that Ness has signed a deal to acquire the operations of DXC Technology (formerly EDS) from the Dutch company DXC Hague in a deal worth $ 65 million (about NIS 210 million). Hilan’s share is currently rising 5% on the Tel Aviv Stock Exchange.
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DXC employs about 600 people in Israel in providing solutions to organizations and government bodies in order to assist them in the modernization of IT, optimization of data architectures, information security and scalability in private, public and hybrid clouds.
The company recorded annual revenues of NIS 235.7 million in 2020 and revenues of NIS 241.8 million in 2019. Adjusted EBITDA in 2020 was NIS 25.8 million, and NIS 28.6 million in 2019.
The company’s total assets are NIS 222.3 million as of the end of 2020, and the total liabilities are NIS 131.7 million.
Ness, which was acquired by Hilan in 2014 for NIS 145 million, owes 10% of the amount at the time of signing and the rest upon completion of the transaction.
According to Baum, who serves as the company’s chairman: “The acquisition of DXC Israel is expected to make Hilan the leading group in Israel in the field of information technologies. “Joining DXC Israel will be a significant addition to our operations in Israel and will position NESS as the market leader in the world of digital and technological transformation.”
Shahar Efal, CEO of Ness, said that “DXC’s management and hundreds of experts are among the best in the information systems market in Israel and joining the Ness Group will greatly contribute to the old and new customers of the two companies, in the midst of unprecedented technological acceleration and digital transformation.” We look forward to the joining of DXC experts in Israel and are confident that with joint efforts we will be able to achieve significant successes. ”
Ness Technologies was represented by attorneys Miki Barnea, Yuval Lazi and Meir Winkler from the Barnea Jafa Landa firm.
DXC was represented by attorneys Shira Margalit and Amit Edelman from Herzog.
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