SRL Group was acquired for NIS 15 million.
IT integrator Malam Team Ltd. (TASE: MLTM) has signed an agreement to acquire business intelligence (BI) integrator SRL Group Ltd. for NIS 15 million. A deal is subject to approval by the Antitrust Authority.
SRL will become a wholly-owned subsidiary of Malam-Team, which will assume all of SRL's managers and employees. Malam-Team plans to greatly expand SRL's two divisions: the professional services division, which specializes in BI and database software integration; and the products division, which will become part of Malam-Team's strategy to build a products business.
Malam-Team's share price rose 0.1% today to NIS 93.91, giving a market cap of NIS 203 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 14, 2010
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