Investment company Eldav announced earlier this week that it purchased ComSec for 76 million ILS (est. 21.7$ million), and that sum can rise up to 84 million ILS, depending on ComSec’s performance in the next three years. Following the purchase, ComSec will be merged to the Eldav and return to the Tel Aviv stock exchange.
ComSec is a contractor of information security projects and also sells information security products of other companies it represents, and it employs 120 people. It is jointly owned by Nissim and Kochava Bar El, and it was listed in the TASE until 2009, when the owners decided on turning it private.
As part of the deal, Nissim Bar El, currently acting as chairman, will become an external advisor on a 3 year contract.
Eldav is run by Amir Diamant. Its main business is investing in companies with a growth potential in order to raise their value and sell them later for a profit.