Sagiv Greenspan (Photo by Alan Tseplsky)
Priority controlled by venture capital fund Fortissimo continues its acquisition campaign. The company completed the acquisition of SoftSolutions in a transaction valued in the market with a total financial volume of NIS 50 million. In this way, Priority is completing a fourth acquisition in the last two years, totaling NIS 300 million.
Priority’s core product is an ERP system that includes inventory management, finance, customers and so on. The acquired system is actually a system that turns Priority’s traditional ERP into a more user – friendly web interface. For example, the organization will be able to open an online portal for suppliers that will automatically connect to the corporate system and enter data into it that will facilitate inventory management and so on.
More in-
The more attractive interface of SolutionsSolutions that actually “puts an eye” on is an interface that enables e-commerce as the enterprise system supports the sale itself. For example, the organization will be able to interface with stores on Amazon or EBAY and manage the sale directly within the corporate system.
Priority was sold to Fortissimo in 2013 as part of a tender after previous company owners became embroiled in a series of tax offenses that required the company to be put out to tender. Fortissimo acquired the company for NIS 190 million, managed to stabilize it and make it the largest company in Israel in the field of ERP.
Fortisimo later managed to attract dividends from the company in the amount of almost NIS 100 million and then in 2020 sold half of the company to TA at a value of $ 250 million.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment