The IT services company acquired three units
Malam Team Ltd. (TASE: MLTM) today closed the acquisition of three subsidiaries of Netcom Group - Netcom GS Ltd., Netcom Inc., and Netcom Global Systems Inc. for $8 million. Malam made the deal through its wholly-owned subsidiary MTN Communications Ltd.
The three companies provide communications, information security and IT solutions. The main suppliers to the companies are Cisco Systems Inc. (Nasdaq: CSCO), Avaya Inc. (NYSE: AV), and Juniper Networks Inc. (Nasdaq: JNPR). The companies made a net profit of NIS 5 million on NIS 180 million revenue in 2007.
Malam-Team added that it own business in these fields grossed NIS 40 million revenue last year.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2008
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