FIMI Fund Acquires 55% Stake in MMD SMART for $55 Million
FIMI investment fund, led by Ishay Davidi, acquired a 55% controlling stake in MMD SMART for $55 million. The global cloud communications firm generates about NIS 500 million annually.
The FIMI investment fund, managed by Ishay Davidi, has acquired a 55% controlling stake in the communication services company MMD SMART for an investment of approximately $55 million. Most of the investment proceeds will be funneled directly into the company's treasury to fund future growth initiatives.
Founded in 2008, MMD SMART is a private communications group managed by its founders, Aryeh Frankle, who will continue to serve as CEO, and Leonid Rubinov, who remains as Business Development Manager. The company has developed cloud-based software systems enabling organizations to manage communications with customers via mobile messaging (SMS and RCS), WhatsApp, Viber, Telegram, voice calls, email, and other digital channels.
Operating primarily in the global market, the company boasts a turnover of about NIS 500 million. MMD SMART serves a diverse international client base through subsidiaries in Israel, Bulgaria, Singapore, and other countries. Its clients include telecommunications and mobile firms, technology companies, digital marketing agencies, apps, and customer service call center managers.
FIMI stated its intention to work alongside the company's management to drive further growth by expanding global operations, deepening engagement with existing and new clients, and broadening its technological product suite.
Founded in 1996, FIMI is Israel's first and largest private equity fund, managing assets exceeding $11 billion. To date, the fund has acquired control of 109 companies and exited 78 of them in transactions totaling over $9 billion. The fund currently employs more than 55,000 workers across roughly 50 manufacturing plants in Israel and dozens of other facilities worldwide.
