ALD, which is traded on the Tel Aviv Stock Exchange, reported this morning (Monday) that it is conducting preliminary negotiations, in which the possibility of merging the activities of a company in the cyber field, which was established by veterans of elite technology units in the IDF, with An innovative solution for encrypted computing. The merger will be made in exchange for the allotment of controlling shares in the company to the controlling shareholders in the cyber company.
The company stated that one of the conditions for the possibility of merging the activity is an investment of approximately $ 50 million in the merged company, of which an amount of 20% of the financing round has already been promised, as part of a non-refundable letter of commitment from investors. Additional contacts are being conducted with a limited number of offenders to complete the funding round.
The companies began initial contacts and due diligence to examine the merger of their activities, in order to enjoy, among other things, a synergistic connection between the technological innovation of the cyber company, and the significant customer base and the developed local and international sales infrastructure of ALD.
Completion of the merger is subject to the receipt of the approvals of the parties to the transaction, as well as any approval that may be required from any regulatory or third party related to the merger. The company will keep up to date on the progress of negotiations as required.