FIMI Fund Acquires Majority Stake in Communications Firm for $55 Million

The investment fund FIMI, managed by Yishai Davidi, has acquired a controlling stake of 55% in the communications services company MMD SMART for approximately $55 million. The majority of the investment, which values the company at around $100 million before the capital injection, will go into the company's treasury to fund growth initiatives.

MMD SMART, founded in 2008, is a private communications group that develops cloud-based software systems. These systems enable organizations to manage customer communications across various channels, including SMS, RCS, WhatsApp, Viber, Telegram, voice calls, email, and other digital platforms. The company, which operates primarily in the global market, has annual sales of approximately 500 million shekels (about $135 million).

MMD SMART serves a diverse international clientele, including telecommunications and mobile companies, technology firms, digital marketing agencies, app developers, customer service centers, and other organizations requiring marketing, advertising, and customer management solutions. The company has operations in Israel, Bulgaria, Singapore, and other countries.

FIMI plans to collaborate with MMD SMART's management to drive further growth by expanding its global reach, deepening relationships with existing and new clients, and continuing to develop its technological solutions. FIMI, established in 1996, is Israel's first and largest private equity fund, managing over $11 billion in assets. It has previously acquired controlling stakes in 109 companies and divested from 78, with transaction volumes exceeding $9 billion.