Ludan and Dan Public Transport have signed a memorandum of understanding for investment in Symcotech.
Home»Uncategorized»Ludan and Dan Public Transport have signed a memorandum of understanding for investment in Symcotech.
Ludan and Dan Public Transport have signed a memorandum of understanding for investment in Symcotech.
10:11Comments Off on Ludan and Dan Public Transport have signed a memorandum of understanding for investment in Symcotech.wEB3d_lUdan
Pictured from right to left: Arnon Aharon, CEO of Lodan, Ofir Karni, CEO of Dan, Avi Lieber, CEO of Ludantech and Symcotech
Ludan and Dan Public Transport have signed a memorandum of understanding for a strategic investment by Dan in Symcotech (a company wholly owned by Lodan) and an investment in a joint company that will concentrate Symcotech’s operations abroad
Ludan Engineering Company reports today that it has signed with Dan, a public transportation company, a memorandum of understanding for strategic investment in the subsidiary Symcotech, according to which Dan will invest NIS 25 million in exchange for issuing 19.2% of Symcotech shares.
In addition, Dan received a two-year option to allot additional shares of Symcotech in an amount not to exceed NIS 10 million
Simultaneously with the completion of the investment, a joint company will be established which will exclusively carry out all of Symcotech existing and future activities outside Israel.
Dan and Symcotech will inject, according to their holdings in the joint company, up to NIS 30 million for the development of the activity and the acquisition of companies in the target markets outside Israel.
Symcotech CEO Avi Lieber stated that “Dan’s investment in Symcotech and the joint expansion into foreign markets constitute evidence of Dan’s appreciation for Symcotech’s professionalism and reliability. I appreciate that we are at the beginning of a period of development and accelerated investment in the field in the coming years, and we are very happy that we will be joined by the experienced Dan. This is an excellent opportunity to thank the managers and employees of Symcotech for the dedication and hard work that brought the company to new heights. ”
The CEO of Dan Public Transportation Company, Ofir Karni, stated that Symcotech, which provides integrative software and hardware solutions, supports public transportation activities and is consumed by operators in the field of mass transit, includes: supply of payment machines, validation, entrance gates, vehicle fleet management software and maintenance. Dan believes in Symcotech’s ability to continue to grow in Israel at the same time as expanding its operations to additional target markets outside Israel. We believe that in cooperation with Symcotech, we will create a high synergy that will bring value to both Dan and Symcotech. ”
About Symcotech:
Symcotech is engaged in the integration of systems in the field of public transportation. The company has over 25 years of experience and provides systems and maintenance services to a variety of customers in the various fields of public transportation in Israel, such as buses, trains, light rail and cable cars.
In addition to its project and integrative capabilities, the company has a development department that develops back office software for ticketing systems and vehicle fleet management and applications for all required end equipment in the field of public transportation.
The company offers end-to-end solutions that include, among other things: back office software, vehicle fleet management software, payment and validation machines, mobile applications and credit card payment solutions, access control and more.
The company sees the software and integration department as a key growth engine, which positions Symcotech as a technologically leading company in the field of public transportation.
בניית אתרים - Created By -
Pictured from right to left: Arnon Aharon, CEO of Lodan, Ofir Karni, CEO of Dan, Avi Lieber, CEO of Ludantech and Symcotech
Ludan and Dan Public Transport have signed a memorandum of understanding for a strategic investment by Dan in Symcotech (a company wholly owned by Lodan) and an investment in a joint company that will concentrate Symcotech’s operations abroad
Ludan Engineering Company reports today that it has signed with Dan, a public transportation company, a memorandum of understanding for strategic investment in the subsidiary Symcotech, according to which Dan will invest NIS 25 million in exchange for issuing 19.2% of Symcotech shares.
In addition, Dan received a two-year option to allot additional shares of Symcotech in an amount not to exceed NIS 10 million
Simultaneously with the completion of the investment, a joint company will be established which will exclusively carry out all of Symcotech existing and future activities outside Israel.
Dan and Symcotech will inject, according to their holdings in the joint company, up to NIS 30 million for the development of the activity and the acquisition of companies in the target markets outside Israel.
Symcotech CEO Avi Lieber stated that “Dan’s investment in Symcotech and the joint expansion into foreign markets constitute evidence of Dan’s appreciation for Symcotech’s professionalism and reliability. I appreciate that we are at the beginning of a period of development and accelerated investment in the field in the coming years, and we are very happy that we will be joined by the experienced Dan. This is an excellent opportunity to thank the managers and employees of Symcotech for the dedication and hard work that brought the company to new heights. ”
The CEO of Dan Public Transportation Company, Ofir Karni, stated that Symcotech, which provides integrative software and hardware solutions, supports public transportation activities and is consumed by operators in the field of mass transit, includes: supply of payment machines, validation, entrance gates, vehicle fleet management software and maintenance. Dan believes in Symcotech’s ability to continue to grow in Israel at the same time as expanding its operations to additional target markets outside Israel. We believe that in cooperation with Symcotech, we will create a high synergy that will bring value to both Dan and Symcotech. ”
About Symcotech:
Symcotech is engaged in the integration of systems in the field of public transportation. The company has over 25 years of experience and provides systems and maintenance services to a variety of customers in the various fields of public transportation in Israel, such as buses, trains, light rail and cable cars.
In addition to its project and integrative capabilities, the company has a development department that develops back office software for ticketing systems and vehicle fleet management and applications for all required end equipment in the field of public transportation.
The company offers end-to-end solutions that include, among other things: back office software, vehicle fleet management software, payment and validation machines, mobile applications and credit card payment solutions, access control and more.
The company sees the software and integration department as a key growth engine, which positions Symcotech as a technologically leading company in the field of public transportation.