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Multi-million dollar deals for Netafim, Ness
Posted By Viva Sarah Press On June 14, 2011 @ 12:00 am In | No Comments
Netafim is a world leader in its water-saving irrigation methods. The company has more than 2,000 employees at 13 plants in 11 countries, including four plants in Israel.
Permira, a European private equity firm with a global reach, is reportedly interested in acquiring Clal Insurance Enterprises Holdings from IDB Holding, as well.
In related news, information technology services provider Ness Technologies said it has agreed to be acquired by an affiliate of Citigroup’s venture capital arm for $307 million in cash.
The sale, to an affiliate of Citi Venture Capital International, is expected to close in the next three to six months, Ness said.
Ness was recently awarded a five-year contract worth more than $75 million from Barclays Capital, the investment banking division of Barclays Bank, to establish an Israel Development and Engineering Center (IDEC), which will provide technology development and engineering services.
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