Germany’s SAP Acquires Control in Israel's Ofek-Tech

Ofek Tech was assessed at $10 million for the purpose of the transaction. It was also reported that SAP intends to transform the Israeli company into a world development centre in logistics.

Ofek Tech developed the DC Master software package installed in Nestle, Excel Logistics, Strauss and others. The company was founded in 1992 by IAF graduates Shlomo Hasdai and Avi Elyakim. Prior to the deal, the ORS personnel placement company held 45% of the shares of Ofek Tech, 45% were held by Hasdai and Elyakim, and 10% by Avi Landau.

Post dilution, SAP holds, as stated, 5% of the company’s shares, ORS holds 20%, Avi Landau 5% and the founders hold 24%.

Published by Israel's Business Arena June 7, 1998