Israeli Software Firm Priority Acquires AI Company Fireberry for Over $26 Million
Translated & summarized from Calcalist by baba
Israeli software firm Priority is acquiring AI-driven CRM company Fireberry for over NIS 100 million (approximately $26 million USD). This is Priority's fifth acquisition since investment firm Blackstone took control in May 2024. The deal aims to boost Priority's AI capabilities, complementing its existing enterprise software solutions. Fireberry, based in Tel Aviv, employs 30 people and serves thousands of Israeli customers.
The story in 5 lines · by baba
- Priority is acquiring AI company Fireberry for over NIS 100 million ($26 million USD).
- This is Priority's fifth acquisition since Blackstone took control in May 2024.
- The deal aims to bolster Priority's expansion into the artificial intelligence sector.
- Fireberry develops AI-powered CRM systems and serves thousands of Israeli customers.
- Blackstone acquired a controlling stake in Priority for $800 million USD in May 2024.
Israeli software company Priority is acquiring Fireberry (formerly Powerlink) in a deal valued at over NIS 100 million (approximately $26 million USD). This marks Priority's fifth acquisition since being taken over by investment firm Blackstone. Priority will initially purchase over 50% of Fireberry's shares, with an option to acquire the remaining shares from the company's founder, Amir Segev.
Fireberry, based in Tel Aviv, develops and markets AI-powered systems for managing sales, marketing, and customer service processes. Its CRM platform integrates AI capabilities and serves thousands of customers in Israel. The company employs 30 people, and its operations complement Priority's enterprise software solutions.
The acquisition is intended to bolster Priority's expansion into the artificial intelligence sector. It is the largest of the five acquisitions made by Priority under the leadership of CEO Shagiv Greenshpan since Blackstone's investment.
Blackstone, a major global investment firm, acquired a controlling stake in Priority in May 2024 from Fortissimo Capital and TA International. The deal valued Priority at $800 million USD, with Blackstone purchasing 70% of the company's shares. Blackstone's operations in Israel are managed by Yifat Oron and Dani Gillerman.
Priority, which serves 75,000 customers in 70 countries, has a history of acquisitions, including Obol and ExpoNet, predating Blackstone's involvement.