Chinese language pc large Lenovo is about to announce the acquisition of veteran Israeli enterprise storage startup Infinidat, which was based by Moshe Yanai and among the many senior managers is CPO Shahar Bar-Or.
This will probably be Lenovo’s first main acquisition in Israel and the Chinese language firm plans to show it into its Israel growth middle, specializing in information administration for big organizations.
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Market sources estimate that Lenovo pays tons of of hundreds of thousands of {dollars} for Infinidat, which has estimated annual income of $200-300 million from the sale of servers and server administration methods. The corporate has been worthwhile when it comes to EBITDA for the previous 4 years.
The large winners from the deal are the shareholders who invested in Infinidat’s final fund elevating spherical in 2020, as a number of shareholders offered their stakes beforehand at a loss. Among the many traders in that spherical have been Gilad Shany’s ION fund and the Bronfman household’s Claridge fund. The spherical was led by Goldman Sachs and TPG, in response to VC database PitchBook. The spherical was nonetheless a disappointment to many Infinidat workers, who claimed that it had diluted their holdings of choices and shares, and a few of them sued the corporate. So far as is understood, a number of the lawsuits are nonetheless in progress.
The spherical happened after the corporate had been working at a loss for a few years and after Moshe Yanai, who based the corporate in 2011, was eliminated as chairperson. Concurrently the fund elevating spherical, 70% of the corporate’s workers have been laid off. A yr later, Shahar Bar-Or, previously with SanDisk, was appointed CEO of Infinidat, and carried out a restoration program.
Yanai saved his stake within the firm, and for him the present sale is one other in a collection of successes. He has been answerable for the gross sales of a number of Israeli storage corporations that introduced worldwide large corporations to Israel. He offered corporations to IBM and to EMC, and has now introduced Lenovo right here.
Printed by Globes, Israel enterprise information – en.globes.co.il – on January 16, 2025.
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