Mellanox the largest chip companiy in Israel was sold to US Anbidia for $ 7 billion

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by Ifi Reporter Category:Hitech Mar 11, 2019

Mellanox, one of the largest chip companies in the world, was sold to US chip giant Anbidia for $ 7 billion. This is the second exit of the company's founder and CEO, hi-tech entrepreneur Eyal Waldman, after his Galileo was floated on the stock exchange about 20 years ago.
Under the terms of the agreement, Anbidia will acquire all the issued and outstanding ordinary shares of Mellanox for $ 125 per share in cash, representing the total value of the Company's operations. The acquisition will bring together two of the world's leading high performance computing (HPC) companies. Together, Mellanox's computing and connectivity technologies drive more than 250 supercomputers from the TOP500 list and serve all major cloud service providers and major computer manufacturers.
$ 6.9 billion, the Ministry of Finance and the Tax Authority are not expected to open champagne, as they did after previous huge deals. Since this is a company that has been traded for many years on Nasdaq, most of the shareholders are not Israeli - and therefore will not pay tax on the capital gains from the sale of the company's shares.
Upon completing the merger, Anbadia intends to continue to invest in local excellence and talent in Israel, which is one of the most important technology centers in the world. The sales and support services to the customer will not change as a result of this transaction.
Mellanox was founded in 1999 and develops and markets communications equipment for fast data transfer with Ethernet and Infiniband technologies. In 2018, the company first surpassed the $ 1 billion mark in revenues, which grew by 26% compared to 2017.
The chip giant is traded on the stock exchange at $ 91.3 billion, following a 38% drop in its share price in the past year. The company develops and markets graphic processors, which include artificial intelligence components and turn to the gaming, automotive, data center and other industries.
Anbidia expressed great interest in the technology of the Israeli chip company, which is expected to help accelerate the flow of information in its data centers. Prior to the acquisition, Mellanox was traded at a market value of $ 5.9 billion, and the amount paid by the American company attests to a respectable premium added to the transaction.
The chip giant is traded on the stock exchange at $ 91.3 billion, following a 38% drop in its share price in the past year. The company develops and markets graphic processors, which include artificial intelligence components and turn to the gaming, automotive, data center and other industries.
Anbidia expressed great interest in the technology of the Israeli chip company, which is expected to help accelerate the flow of information in its data centers. Prior to the acquisition, Mellanox was traded at a market value of $ 5.9 billion, and the amount paid by the American company attests to a respectable premium added to the transaction.
Minister of Economy and Industry Eli Cohen welcomed the exit: "The sale of Mellanox to the technology giant Anvidia is an important expression of confidence in Israel's high-tech and innovation industry and helps to further establish Israel's position as a leading player in the global technological arena. The growth of the leading companies. "
Clal Insurance and Finance said that since the company is the largest Israeli shareholder in Mellanox, with a holding of 3.8% of the company, its members benefited as a result of this holding from a total profit of half a billion shekels.

 

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