International credit risks company Coface yesterday acquired control of Business Data Israel (BDI) from BDI general manager Tehila Tamir-Yanay, CEO Eyal Yanai, and chairman Amnon Altman. Coface, which previously owned 10% of BDI, also acquired the 10% stake in BDI owned by the Graydon group, which will give it a 60% interest in BDI.
Market sources estimated the company value for the acquisition of BDI at $30-40 million, reflecting a profit multiple of 10. The price also reflects the fact that BDI operates in a growing market, with increasing global demand. The Israeli market has great growth potential, now that the Credit Data Service Law has come into effect. BDI was authorized to provide information about the degree to which private parties met their obligations.
BDI’s managers will continue managing the company in the coming years, and Coface CFO François Meunier will join BDI’s board of directors. European banking group Natexis Banques Populaires controls Coface. Coface had $16.4 billion in equity, $1.5 billion in revenue, and 4,600 employees in 2004.
Coface will help BDI introduce innovative business information products in order to strengthen BDI in intense competition in the Israeli market, particularly against D&B Israel. Founded in 1990, BDI provides real time alerts, credit recommendations, credit risk ratings, industry reviews, information for insurers, etc.
Published by Globes [online] - www.globes.co.il - on January 18, 2006