Chinese language laptop big Lenovo is about to announce the acquisition of veteran Israeli enterprise storage startup Infinidat, which was based by Moshe Yanai and among the many senior managers is CPO Shahar Bar-Or.
This shall be Lenovo’s first main acquisition in Israel and the Chinese language firm plans to show it into its Israel growth heart, specializing in knowledge administration for big organizations.
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Market sources estimate that Lenovo pays lots of of tens of millions of {dollars} for Infinidat, which has estimated annual income of $200-300 million from the sale of servers and server administration programs. The corporate has been worthwhile by way of EBITDA for the previous 4 years.
The massive winners from the deal are the shareholders who invested in Infinidat’s final fund elevating spherical in 2020, as a number of shareholders offered their stakes beforehand at a loss. Among the many buyers in that spherical have been Gilad Shany’s ION fund and the Bronfman household’s Claridge fund. The spherical was led by Goldman Sachs and TPG, in response to VC database PitchBook. The spherical was nonetheless a disappointment to many Infinidat staff, who claimed that it had diluted their holdings of choices and shares, and a few of them sued the corporate. So far as is understood, among the lawsuits are nonetheless in progress.
The spherical occurred after the corporate had been working at a loss for a few years and after Moshe Yanai, who based the corporate in 2011, was eliminated as chairperson. Concurrently the fund elevating spherical, 70% of the corporate’s staff have been laid off. A yr later, Shahar Bar-Or, previously with SanDisk, was appointed CEO of Infinidat, and carried out a restoration program.
Yanai stored his stake within the firm, and for him the present sale is one other in a sequence of successes. He has been accountable for the gross sales of a number of Israeli storage firms that introduced worldwide big firms to Israel. He offered firms to IBM and to EMC, and has now introduced Lenovo right here.
Printed by Globes, Israel enterprise information – en.globes.co.il – on January 16, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
