Formula Systems acquires Zap Group for NIS 240m
Formula Systems acquires Zap Group for NIS 240m Zap Group is Israel's largest consumer website company, with more than 20 websites that have over 17 million monthly visitors. Formula Systems Ltd. (Nasdaq: FORTY; TASE: FORTY) has announced that it has signed an agreement to acquire full ownership of ZAP Group from Apax Partners for NIS 240 million cash, subject to adjustments. The amount paid could grow to NIS 300 million dependent on operational profit milestones adapted to EBITDA over the two years following the acquisition. The deal is subject to certain conditions including approval by th...
Source: globes.co.il