Chinese language laptop 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 might be Lenovo’s first main acquisition in Israel and the Chinese language firm plans to show it into its Israel improvement middle, specializing in knowledge administration for giant organizations.
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Market sources estimate that Lenovo pays lots of of tens of millions of {dollars} for Infinidat, which has estimated annual income of $200-300 million from the sale of servers and server administration techniques. The corporate has been worthwhile by way of EBITDA for the previous 4 years.
The massive 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 buyers 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 keeping with VC database PitchBook. The spherical was nevertheless a disappointment to many Infinidat staff, 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 few of the lawsuits are nonetheless in progress.
The spherical came about 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 staff 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 stored 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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