Matrix CEO Moti Gutman: This acquisition will help Matrix expand to new US customers, especially federal agencies and large enterprises.
Matrix IT Ltd. (TASE:MTRX), headed by Moti Gutman, announced today that it had acquired US company RightStar, in a deal estimated in the millions of dollars. At the end of the third quarter, Matrix IT had NIS 541 million cash.
The acquired company, which was founded in 2003, provides management, support, consultancy and implementation services for IT solutions. It is headquartered in the Washington area, employs some 50 people and has about 300 customers. It focuses on the public sector in the US.
Gutman said that the acquisition was a continuation of Matrix's strategy of expanding its activity in the US. "This acquisition will help Matrix to expand its main arm for sales and implementation of software products in the US among hundreds of new customers in the US market, especially federal agencies and large enterprises."
Published by Globes, Israel business news - en.globes.co.il - on November 17, 2020
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Moti Gutman