StoreNext News
5 articles
growth-negative
Competition Authority blocks StoreNext sale to Fortissimo
The Israel Competition Authority opposes the sale of StoreNext to Fortissimo Capital Fund due to concerns about the data held by StoreNext about competitors to food manufacturer Sugat, which Fortissimo also owns. StoreNext failed to hold an IPO last year due to market conditions. The Competition Authority is concerned about the ability of suppliers competing with Sugat to connect to StoreNexts system and the sensitive data about Sugats rivals held by StoreNext. The controlling shareholders in StoreNext include Victor Shamrich and Ido Neuberger, who are also the controlling shareholders in Value Base, the underwriting company that was leading the canceled IPO. StoreNext was previously controlled by Retalix, which was acquired by NCR in 2013.
PartnersAcquisition
growth-negative
Fortissimo buys retail data co StoreNext for NIS 180m
StoreNext, an Israeli retail data company, has cancelled its planned IPO on the Tel Aviv Stock Exchange (TASE) due to an acquisition by Israeli private equity fund Fortissimo Capital. The acquisition price of NIS 180 million is 10% below the target valuation in StoreNexts planned IPO. Fortissimo Capital aims to enhance and expand StoreNexts activities in the B2B sector. StoreNext was previously controlled by Retalix and currently has 114 employees. The company gathers retail information from cash tills and point of sale systems and processes it on an online platform.
Acquisition
growth-negative
Fortissimo buys retail data co StoreNext for NIS 180m
Israeli private equity fund Fortissimo Capital is acquiring StoreNext for NIS 180 million, which is 10% below the target valuation in StoreNexts planned TASE IPO. StoreNext provides critical retail data and has a digital platform that gathers information from cash tills and point of sale systems. The acquisition is expected to enhance and expand StoreNexts activities.
Acquisition
growth-positive
לפי שווי של 300 מיליון שקל: סטורנקסט בדרך לבורסה בתל אביב בלעדי
StoreNext, a technology company that provides solutions for the digital transformation of business processes, is planning to issue its shares (IPO) on the Tel Aviv Stock Exchange. The company aims to raise several tens of millions of shekels at a company value estimated at about 300 million shekels. StoreNext, which is currently owned by Value Base Investment and the companys management, has taken over the field of collecting and analyzing consumer product market data in Israel.
Public TradingInvestment
growth-positive
Isracard invests $2.5m in Retalix's StoreNext initiative
StoreNext Israel, a provider of information services to Israeli retailers, has received a $2.5 million investment from Isracard, valuing the company at $16.9 million. Isracard will receive a 13% stake in StoreNext Israel. The other shareholders in StoreNext Israel are Retalix, the Central Bottling Company, and Discount Investment Corporation. StoreNext Israel offers information and e-commerce services to the Israeli food retail industry. The investment allows StoreNext to offer a wide variety of financial services to its customers. Isracard sees the investment as a strategic partnership and aims to lead the Israeli credit card industry into the B2B era. The investment strengthens the status of the StoreNext Group in Israel.
InvestmentPartners
