Add-on Acquisition • Information Technology

Formula Systems and Israel Aerospace Industries Acquire TSG IT Advanced Systems

On January 14, 2016, Formula Systems and Israel Aerospace Industries acquired information technology company TSG IT Advanced Systems for 50M USD

Acquisition Context
  • This is Formula Systems’ 1st and Israel Aerospace Industries’ 1st transaction in the Information Technology sector.
  • This is Formula Systems’ and Israel Aerospace Industries’ largest (disclosed) transaction.
  • This is Formula Systems’ 1st and Israel Aerospace Industries’ 1st transaction in Israel.

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M&A Deal Summary

Date January 14, 2016
Target TSG IT Advanced Systems
Sector Information Technology
Buyer(s) Formula Systems
Israel Aerospace Industries
Deal Type Add-on Acquisition
Deal Value 50M USD

Target Company

TSG IT Advanced Systems

Tel Aviv, Israel
TSG IT Advanced Systems Ltd. is a provider of core command and control systems to Israel's defense organization, including the Israeli Defense Forces and the Israeli Police, and its activity is well suited for both parties.
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Buyers Overview 2

Buyer

Formula Systems

Or Yehuda, Israel

Category Company
Founded 1985
Sector Information Technology
Employees22,720
Revenue 2.8B USD (2024)
DESCRIPTION

Formula Systems is an IT global solutions provider, offers a wide range of IT solutions and services in over fifty countries. Formula, through its subsidiaries, provide quality IT solutions worldwide, developing and implementing innovative, proprietary software, services and solutions, turnkey projects and outsourcing services as well as software distribution and support. Formula Systems was founded in 1985 and is based in Or Yehuda, Israel.


Deal Context for Buyer #
Overall 1 of 3
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 1 of 3
Country: Israel 1 of 3
Year: 2016 1 of 1
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-19 Unique Software Industries

Jerusalem, Israel

Unique Software Industries Ltd. is a software development and services company that provides integrated solutions in the field of payroll, including pay-stubs, pension services management, education funds management, and software solutions for managing employee attendance. Unique Software Industries is based in Jerusalem, Isreal.

Buy ₪61M
Buyer

Israel Aerospace Industries

Lod, Israel

Category Company
Founded 1953
Sector Aerospace
DESCRIPTION

Israel Aerospace Industries (IAI) is globally recognized leader in the development and production of systems for the defense and commercial markets. IAI offers unique solutions for a broad spectrum of requirements in space, air, land, sea and cyber.


Deal Context for Buyer #
Overall 2 of 2
Sector: Information Technology 1 of 1
Type: Add-on Acquisition 2 of 2
Country: Israel 1 of 1
Year: 2016 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-05-01 Analytical Methods

Redmond, Washington, United States

Analytical Methods is a technology center of excellence providing engineering, software and product development in aerodynamics, computational fluid dynamics, analytical tools, propulsion, aero elasticity and autonomous systems.

Buy -