Tadiran Telecom News
2 articles
growth-negative
Afcon seeks buyer for Tadiran Telecom
Tadiran Telecoms communications subsidiary is being valued at $30 million by Afcon Holdings Group. The company recently launched its Aenoix enterprise communications solutions, which it hopes will drive future growth. However, the switch from the Coral product family to Aenoix has resulted in operational losses for Tadiran Telecom. In the first quarter of 2016, the company reported a 19% increase in revenue for its communications division, but also experienced losses due to investment in the development and marketing of the new product.
InvestmentCustomers
growth-positive
Shlomo Shmeltzer's Afcon buys Tadiran Telecom
Afcon Industries Ltd. has acquired Tadiran Telecom Ltd. for NIS 6.2 million, removing the threat of closure for Tadiran Telecom. The employees will continue producing and developing the companys products and services. The acquisition was almost inevitable as it would have likely resulted in closure if sold to anyone else. Afcon will pay NIS 2 million in cash and the rest as royalties on sales. Tadiran Telecoms employees will become employees of Afcon, with their rights guaranteed. Afcon Industries share price rose 2.3% to NIS 29, giving a market cap of NIS 128 million.
Acquisition
