Monday, September 10, 2007

E&M Computing buys outsourcing firm

The company has acquired 90% of Horizon Technologies for NIS 10.5 million.

E&M Computing Ltd. (TASE:EMCO) has acquired 90.1% of outsourcing company Horizon Technologies LD Ltd. for NIS 10.5 million.

E&M Computing CEO Yoav Weinberg said, “This merger will undoubtedly enable the provision of support and leverage for new software development ventures in Israel and internationally.”
Horizon Technologies CEO Shai Liberti said, “The merger with E&M will strengthen the company’s ability to offer development and outsourcing projects.” He will continue at his post after the merger.

Horizon Technologies was founded in 1998 as a subsidiary of Diskal Systems Ltd. The company provides outsourcing and project development services as well as providing offshore software development activity for Israeli companies. The company currently has more than 110 development, quality assurance, systems engineers and project managers.