FIMI Investment Fund Acquires Majority Stake in MMD SMART for $55 Million

The investment fund FIMI, managed by Yishai Davidi, has acquired a controlling 55% stake in the communications services company MMD SMART for approximately $55 million. The majority of the investment funds will be injected directly into the company's treasury to fuel growth initiatives.

MMD SMART, founded in 2008, is a private communications group specializing in cloud-based software systems. These systems enable organizations to manage customer communications across various channels, including SMS, RCS, WhatsApp, Viber, Telegram, voice calls, and email. The company, which operates primarily in the global market, reported annual sales of around 500 million shekels.

Founded in 1996, FIMI is Israel's first and largest private equity fund, managing over $11 billion in assets. The fund has previously acquired controlling stakes in 109 companies and divested from 78, with transaction volumes exceeding $9 billion. FIMI employs over 55,000 people and operates approximately 50 facilities in Israel, along with numerous other facilities and companies worldwide.

MMD SMART serves a diverse international clientele, including telecommunications and mobile companies, technology firms, digital marketing agencies, app developers, and customer service centers. The company has operations in Israel, Bulgaria, Singapore, and other countries. FIMI intends to collaborate with MMD SMART's management to expand its global reach, deepen engagement with existing and new clients, and further develop its technological solutions.