FIMI buys controlling stake in Emet Computing
Israeli private equity firm FIMI Opportunity Funds is acquiring a 62.5% stake in E&M (Emet) Computing Ltd. (TASE:EMCO) for NIS 450 million at a company valuation of NIS 720 million.
The deal will be completed if certain contingency conditions are fulfilled within 90 days.
In the first nine months of 2020, E&M’s revenue was NIS 995 million, down 2.8% from the corresponding period of 2019, while net profit rose 21% to NIS 28.6 million.
The company has 22 subsidiaries and five production sites in Israel and the U.S. with 1,100 employees. Customers include government offices and major companies in Israel and abroad.
The NBA team was led by Senior Partner and Head of M&A practice Sharon Amir together with partners Idan Lidor, Golan Kaneti, and Michal Zohar, and associates Sharon Gold, Gili Aram, Yoni Adini, Tal Slabbaert, and Gil Moneta.
