Mega exit for FIMI fund and the Alpha Group: Calcalist has learned that US technology corporation NCR, which is traded on NASDAQ on a $3.8 million market cap, is poised to acquire Israeli retail software solutions developer for a whopping $800 million – 50% above its market value on Wednesday's opening bell on NASDAQ.
Under the terms of the agreement, NCR will pay $30-$31 in cash per Retalix share. Negotiations are in advanced stages and the deal is expected to be signed in the coming days.
The FIMI find, managed by Ishay Davidi, entered an investment in Retalix on February 2008 and became the company’s largest shareholder with an 11.7% stake.
The Alpha Group, which is owned by former Amdocs execs Boaz Dotan, Eli Gelman, Nehemia Lemelbaum, Avinoam Naor and Mario Segal – holds 4.8 million Retalix shares and 1.25 million Retalix options for Retalix stock at a strike price of $9.1 per share.
Alpha will receive an estimated $190 million for its stake in Retalix as compared to its investment of $57 million in the company.
FIMI will receive an estimated $140 million for its 4.47 million shares in Retalix as compared with the $61 million it had originally invested in the company, earning it a $79 million return on its investment.
Trading of Retalix and NCR shares was stopped Wednesday evening on Wall Street following Calcalist's report of the deal.
This report was originally published in Hebrew