iGo navigation software developer NNG, controlled by David Wiernik and Kobi Halpern, announced today (Monday) that it had acquired control of automotive cyber security company Arilou Technologies. This acquisition joins NNG's acquisition of US human machine interface (HMI) prototyping firm Nfusion some 18 months ago.
<p>The value of this deal was not made public but NNG stated that the agreement includes a purchase of shares from current shareholders and a capital injection to the company. Furthermore, NNG's announcement indicates that Arilou's regular activity in Israel will be maintained under the current management, and that the acquisition by NGG will provide Arilou with new business opportunities.
<p>NNG was represented in this deal by the Tomer Maharshak & Co. law firm, while Arilou was represented by Adv. Ran Dimant and Adv. Hagai Shternberg from the Katzenell Dimant Frank (KDF) law firm.
<p>NNG President David Wiernik said, "Following the rapid increase in company revenue and profitability, and in accordance with NNG's strategy of expanding its fields of activity, the investment in Arilou is a natural and direct continuation of our 2014 acquisition of the US firm Nfusion, which specializes in human machine interface. The acquisition reflects NNG's vision of providing car manufacturers and drivers with an extensive kit of tools and services for the car multimedia system."
<p><em>Published by Globes [online], Israel business news - <a href=" http://www.globes-online.com "> www.globes-online.com</a > - on July 18, 2016</em></p> <p><em>© Copyright of Globes Publisher Itonut (1983) Ltd. 2016</em></p>