Merger in the field of drip irrigation: Israeli Rivalis acquires the Indian corporation Jane

Merger in the field of drip irrigation: Rivalis acquires the Indian corporation Jane in a cash and stock deal. Rivlis is owned by the Singapore-based Tamsk Foundation, and is headquartered in Kfar Saba, where the office of CEO Richard Klapholz is located.
Jane is a merger of the Indian company with the Israeli companies Naan and Dan - and is the third company in the world in its field. Jane, however, has been in retreat in recent years, and Rivalis has taken advantage of this to take over at the conclusion of peaceful talks by the Bank of America.
Rivalis is an incarnation of the Plastro company from Kibbutz Gvat. It was sold to John Deere in 2008. In 2014, it returned to Israeli hands - after being acquired by the Pimi Foundation of Yishai Davidi. In 2020 the company was sold to Tamsk.
The merger will establish Rivalis' position as the number two company in the world of drip irrigation after the Israeli Netafim owned by Mexico and Kibbutz Hatzerim.
The merged company's revenue is estimated at $ 800 million a year (compared to $ 1.2 billion for Netafim). The cash in the deal is estimated to be used to repay Jane's debt.