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Merger (USD22.7m): Ateras Sophisticated Business Systems/BluePhoenix Solutions Ltd

Posted: October 22, 2014 | Support Services | Middle East & Africa

Deal Feed International Reports: BluePhoenix merging with Ateras in $22.7m deal

Press Release:

BluePhoenix has been shifting its focus overseas and selling off its non-core business.

Software conversion company BluePhoenix Solutions Ltd. has shifted its focus to outside Israel in recent years, being delisted from the Tel Aviv Stock Exchange (TASE) and significantly cutting its staff in Israel. The Israeli section of the company will soon become even smaller, following a merger with a US company.

BluePhoenix, whose Nasdaq market cap is $42 million, is merging with Ateras Sophisticated Business Systems in a share deal.

Deal details sourced by the Deal Feed Team from Globes. (Opens in new window)

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