As a condition of the merger, ALD was required to raise a minimum amount of $ 50 million to be used by the merged company. The entire move is led by investment firm A-Labs Advisory & Finance and the Clover Wolf Capital Fund.
The document of principles stipulates that the merger between the company and the cyber company will be carried out at an estimated value of approximately $ 145 million after the raising. Upon completion of the merger, the parent will become the controlling owner of the company in the subsidiary, with 51% of its shares and a majority on the board of directors.
The father has an advanced encrypted computing solution for companies and organizations that aims to prevent hostile intrusion and protect sensitive commercial information. The company was founded in 2017 by a number of founders such as Eyal Moshe, the company’s CEO and Andrei Yarmanko, VP of technology. Its shareholders include the global insurance company AXA, the investment fund OurCrowd and other investors. In the past year the company has signed a number of new agreements Seagate, Lloyd’s storage, and cooperation agreements with Kudelski Security and the Israeli Electric Company’s cyber unit.
ALD provides services, consulting and software in the field of systems reliability. The company’s customers are government entities and other large entities, some of which have been working with the company for 20 years. ALD employs about 400 people and its offices are located in Even Yehuda. The company has an annual turnover of about NIS 130 million.
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