IT Services Company Malam Tim Acquires a photocopier, which specializes in office automation services, for NIS 22.9 million. The acquisition will be made through the subsidiary Netcom, from the current owner of Tzilometik – Moshe Ben Hamo, who serves as CEO of the acquired company, who will continue in his position for a minimum period determined between the parties. Financing of the transaction will be from the company’s own sources
Photocopier provides solutions in the field of office automation and markets technology products and business automation, which include the products of Sharp and Xerox, which manufacture integrated copiers, printers and fax machines.
Photo management is located in Rishon Lezion, the company has a service and warehouses in the area, and has branches in Haifa, Jerusalem and Beer Sheva. It employs 70 people, and according to Malam Tim’s announcement, the photocopier has about 1,700 customers; The photocopy website contains a list of customers, including Tnuva, Mekorot, Bank Hapoalim, the Ministry of Justice and the Jewish Agency.
Financial data from a photocopy provided by Malam Tim in a report to the stock exchange indicate a decrease in the revenue and profits of a photocopier in 2021. The company ended the year with revenues of NIS 30.6 million, a decrease of 10.7% compared to revenues in 2020. Adjusted EBITDA (profit excluding interest, tax, depreciation and amortization) decreased by 9.3% to NIS 9.6 million. The EBITDA rate was actually higher than last year: 31.3% compared to 30.8%.
The company will continue to operate independently on the basis of existing management
According to Malam Tim, the deal is part of its growth strategy through the acquisition of companies or activities, with the acquisition of Photocopier expected to expand its activities in the field of printers and enable it to provide additional services in this field. Malam Tim intends to continue operating Photomic as an independent company based on its existing management.
About a year and a half ago, a similar acquisition was made, when the IT services company Matrix acquired control of the printing services and office automation company Gasttenertek from the Private Equity Sky fund at a value of NIS 98 million to Gasttenertech, which markets Canon, HP, Ricoh and Xerox products. Matrix has acquired 51% of the company’s shares, and has an option to acquire the remaining shares until 2023.
Malam Tim, controlled by the company’s chairman Shlomo Eisenberg, is traded at a market value of about NIS 2 billion, after a 2.4% drop in the share price in the past year. The company provides services and products in the IT field, including consulting, planning, implementation, integration. Assimilation and guidance.
It operates in four areas: hardware and cloud infrastructure; Software, projects and business solutions; The field of payroll services, human resources and long-term savings; And the field of construction and investment in start-up companies. In 2021, Malam Tim recorded revenues approaching NIS 2.3 billion, stable compared to 2020. Net profit amounted to NIS 67.8 million, a decrease compared to NIS 76 million in 2020.
Photocopy
activity: Engaged in the field of office automation and markets products of the companies Sharp and Xerox
History: Established in 1964. The current controlling shareholder is Moshe Ben Hamo, who serves as CEO
data: The company’s headquarters are located in Rishon LeZion, and it employs 70 people. The company has 1,700 customers, including Mekorot, Bank Hapoalim and the Ministry of Justice. In 2021, it recorded revenues of NIS 30.6 million and an adjusted EBITDA profit of NIS 9.6 million.