FIMI Fund Records Rare Loss in This Company: Now It Secures a Giant Order
PEAX Group, controlled by the FIMI fund, has signed a defense order worth 115 million shekels—nearly half of its market value. However, this specific investment has been one of the few loss-making ones for the successful fund.
The FIMI fund is used to winning. 11 times on Beit Shemesh Engines, 6 times on Galam, profits of hundreds of millions in almost every exit. But there is one investment in its portfolio that behaves completely differently, and precisely today it returns to the headlines with good news.
PEAX Group, formerly A.M.T. Computing, reported receiving a binding order in the amount of approximately 115 million shekels from a client in the Israeli defense sector. This is an irrevocable order for the supply of licensing for Big-Data systems from a leading global manufacturer, which will span about 3 years.
Payments will be made according to milestones set with the client, while at the same time PEAX will purchase the licensing from a distributor abroad and pay them according to the same schedule. The revenues will be credited to the cloud infrastructure, computing, and cyber sector.
To understand how large this order is, it is enough to attach it to the company's value. PEAX is traded today, as of pre-market opening, at a value of only about 234 million shekels. In other words, one single order is worth nearly half of the group's entire market value. This is an unusual figure, and it is clear why the company is quick to emphasize that the deal establishes its status as a leading supplier in the field.
At the beginning of 2026, the veteran Amet group launched a rebranding under the name PEAX, a move intended to express the expansion of recent years, including a series of strategic acquisitions and a move to a unified campus in the Amot Platinum tower in Petah Tikva. Instead of scattered offices in Ramat Gan, Tel Aviv, and Rosh HaAyin, all companies were concentrated under one roof of about 5,800 square meters. The idea: one group, one language, more synergy between the divisions.
Behind all this stands the FIMI fund, which acquired control of the company at the beginning of 2021 for about 450 million shekels, based on a company value of 720 million shekels at that time. Today it holds about 61.9%.
And here the story gets interesting. The stock has plummeted by about 43% since the beginning of the year, and a similar decline was recorded when looking at the last 12 months. A company value of 234 million shekels as of this morning's pre-market opening, multiplied by a 61.9% stake, gives FIMI a holding worth only about 145 million shekels. Compared to the 450 million shekels it paid, this is a paper loss of almost 70%. In response to the deal, the stock is rising by about 1.5%.
It is important to qualify: FIMI has collected dividends over the years, and the actual loss is smaller than the dry number. Nevertheless, in relation to the phenomenal returns that the fund is used to presenting, A.M.T. Computing is one of the few investments in the portfolio that is recorded in red.
The large defense order is exactly the type of move that FIMI hopes will get the stock back on track, while at the same time it has recorded several prominent moves in the recent period: the IPO of Rafa, the sale of Beit Shemesh shares to Harel, the IPO of Galam, and a record raising of 1.75 billion dollars.
A significant portion of the investors in FIMI funds are exactly the entities that manage your pension, provident, and advanced study funds. In other words, both exposure to FIMI's successful investments and exposure to cases that went wrong, such as PEAX, eventually reaches the public's long-term savings. The new order reminds us that even a company that has fallen on the stock market can still generate significant business, and that the real question is whether this growth will be enough to close the gap.
Andres Richter, the group's CEO, stated:
"We are happy to report the receipt of this large order, which testifies to the great trust that the group receives from the defense sector in Israel, and to the potential existing in our activity with the various entities in this sector. We believe that this deal testifies to the recognition of the group's professional capabilities and establishes its status as the leading supplier in the fields of these systems. We intend to continue to act as a dominant body in the IT market in Israel, while providing advanced solutions of technological infrastructures and advanced software in the fields of computing infrastructures, cloud, cyber, digital, and data."
