Telecommunications company Bezeq (TASE: BEZQ) is selling its subsidiary Bezeq Online to One Software Technologies (TASE: ONE), which provides IT services and is led by Adi Eyal. The transaction price is 50 million shekels. Bezeq says the sale is part of a focus on the group’s core business, in line with its commercial strategy. The operation was led by Rosario Capital.
Bezeq specifies in its notification to the Tel Aviv Stock Exchange that Bezeq Online is not in synergy with its main activity and does not constitute a material asset for the group. Bezeq expects a negligible capital loss following this transaction. The company has a book value of NIS 57 million.
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One Software Technologies plans to finance the operation from its own resources. At the end of June, she had 395 million shekels in cash.
Since 2000, Bezeq Online has set up, managed and operated telephone support centers. Its clients are large organizations in the public and private sectors. Its activity is in line with the services provided by One Software Technologies.
In the first half of this year, Bezeq Online achieved revenue of NIS 102 million and operating profit of NIS 1.6 million. Its 2,400 employees will retain their jobs under the new ownership and the company will continue to be led by Avi Atias.
The Chairman of Bezeq said: “The sale of Bezeq Online represents a substantial new step in the implementation of the group’s strategy. We will continue to focus on our core capabilities and channel our resources towards strategic tasks, such as expanding the fiber optic network, implementing 5G technology and moving television services to an IP platform. »
Published by Globes, Israel Business News – fr.globes.co.il – November 10, 2024.
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