Portofino Investments advised both parties in the acquisition of E&M Computing by Fimi Opportunity Fund in the amount of $140M
AT A GLANCE
FIMI Opportunity Fund, the largest and one of the most active PE funds in Israel, acquired a controlling stake in the publicly traded IT company – E&M Computing Ltd. ("Emet Computing") for USD 140 million. The transaction between FIMI and Emet's shareholders is the largest acquisition in recent years in the Israeli IT services market. Portofino investments was acting as the sole advisor in the transaction on behalf of both parties. As part of the advisory services, Portofino assisted the parties in structuring the deal including all financing aspects.
THE ACQUIRER
FIMI fund has completed over 94 investments, executed 64 exits with total transaction value of more than $5.5 billion. Its track record includes: Retalix Ltd. – purchased by NCR Corporation for over $800M, Lipman Engineering Ltd. – purchased by Verifone Systems, Inc. for over $900M, and many other successful deals. FIMI invests in companies with significant growth potential and tangible growth engines, and its investments are spread over a variety of sectors including: automotive, electronics, tech, metal, software, aviation and more. Since inception, FIMI has raised seven PE funds with over $4.3 billion in aggregate capital commitments and its performance has been exceptional by both local and global standards.
THE TARGET
Founded in 1984 and publicly traded on the Tel-Aviv Stock Exchange since 1993 (TASE:EMCO), Emet Computing is a leading solutions provider for Cloud information systems and Data-Center technologies. With multiple offices in Israel, worldwide distribution and a workforce that includes over 1,000 experts, EMET Computing provides Tier-1 clientele with innovative and state-of-the-art technologies, supported by initiating consultancy, deployment and maintenance services.