Ness Israel Acquired By Hilan Tech For $42M

June 23, 2014 | The Israeli company Hilan Tech acquired Ness Technologies Israel for $42 million according to a “Globes” report. The net sale is $32 million as Ness Israel must have $10 million in working capital before closing. When the deal is closed, Ness Israel CEO Shachar Efal will acquire 10 percent of the company. The deal is expected to significantly boost Hilan’s business as Ness Israel has an annual turnover of NIS 700 million while Hilan Tech reported revenue of NIS 430 million in 2013. Ness Israel is part of the global IT services provider Ness Technologies.