Matrix will sell 45% of the shares in the subsidiary Infinity Labs to Links Detail Holdko for NIS 160 million

The information technology company Matrix published on Thursday an update to its investors on a small exit, on which it will post a capital gain of NIS 160 million. As part of the transaction, Matrix will sell 45% of the shares in the subsidiary Infinity Labs to Links Detail Holdko.
The shares are being sold at a value of NIS 375 million, and Matrix will receive the consideration in cash at the time the transaction is completed. Infinity Labs is a research and development company that has been operating training tracks for high-tech technology positions since 2014.
Matrix, which is traded at a value of NIS 5.76 billion, is set to publish its financial statements this coming Sunday. The company closed the first nine months of 2021 with a turnover of NIS 3.2 billion - about 14% more than in the corresponding period in 2020.
Gross profit in the first nine months of 2021 amounted to NIS 457 million - about 14% more than in the corresponding period. During this period, the company showed a growth of 15.5% in operating profit, which amounted to NIS 239 million, and in the bottom line, Matrix presented a net profit of NIS 141 million to public shareholders - 18% more than in the first nine months of 2020.