FIMI Fund Acquires Majority Stake in MMD Smart for $55 Million

The FIMI Opportunity Fund has agreed to acquire a 55% controlling stake in the technology communications services company MMD Smart for approximately $55 million. The deal values the company at $100 million, with the majority of the investment going into the company and a portion to its two founding partners. MMD Smart, co-owned by CEO Aryeh Franklach and partner Leonid Rubinov, specializes in enabling global companies to simultaneously connect with customers across different countries and to facilitate transitions between various telecom operators in separate nations.

Founded in 2008, MMD Smart generates annual revenues of around 600 million shekels (approximately $165 million) and is profitable. The company employs over 200 people across its offices in Petah Tikva, Israel, Bulgaria, and Singapore. FIMI's investment is intended to fuel further international expansion and accelerate the company's growth.

MMD Smart primarily serves a global clientele, including major telecom and mobile carriers, leading technology firms, digital marketing companies, app developers, and customer service centers. Its solutions cater to organizations worldwide needing to manage marketing, advertising, and customer relations. FIMI, managed by Yishai Davidi, stated its intention to collaborate with MMD Smart's management to foster continued growth, expand its global operations, deepen engagement with existing and new clients, and further develop its technological solutions.