E&M Computing Ltd. (TASE:EMCO) (Emet) has acquired the controlling interest in a competitor, which will substantially boost activity. E&M acquired 90.1% of Dorcom Computers Ltd. (Computerland) for NIS 9 million. E&M estimates that the acquisition will boost its annual revenue by NIS 100 million, 36% of its NIS 278 million revenue in 2009.
E&M imports, markets, assembles, and installs computers, work stations, peripheral equipment, and other software products of IBM Corporation (NYSE: IBM), Sun Microsystems NV (Nasdaq: SUNW), Symantec Corporation (Nasdaq: SYMC), and other companies. E&M also provides hardware and software consultancy, training, and repair and maintenance services.
Docom resells Hewlett Packard Co. (NYSE:HPQ) equipment and products and has the status of preferential HP partner. The company has 90 employees.
E&M also owns 2.7% of technology incubator Maayan Ventures Ltd. (TASE:MAYN), and 0.12% of advanced driver assistance systems MobileEye Technologies Inc.
E&M's share price fell 1.5% by mid-afternoon on the TASE today to NIS 1.76, giving a market cap of NIS 75 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2010
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