Zoom Information, the business information startup founded and until recently led by Israeli Yonatan Stern, has been acquired by DiscoverOrg in a deal valuing ZoomInfo at an estimated $800 million, TheMarker has learned. Based in Massachusetts with research and development offices in Israel, ZoomInfo was acquired by the U.S. investment fund Great Hill in 2017 at a $240 million valuation. DiscoverOrg, a marketing and sales intelligence provider, said the combined company would provide sales, marketing and recruiting professionals with a comprehensive business-to-business database. “DiscoverOrg’s research-verified accuracy and deep buying insights complement ZoomInfo’s comprehensive coverage of 100 million business professionals worldwide. Both organizations use highly advanced proprietary technologies and tools to gather, cleanse and maintain company and contact data,” DiscoverOrg said. ZoomInfo was founded in 2000 by Stern, who led it as CEO until returning to Israel last year. He stayed on as a director. (Ruti Levy)
Tshuva offers Delek Real Estate bondholders a haircut option
Yitzhak Tshuva is offering holders of the Series 2 bonds in his Delek Real Estate unit the option of taking a haircut or holding out till the end of 2020 in the hopes of getting repaid the full value of their debt. In a tender offer Thursday, April Real Estate – the company serving as a publicly traded pipeline for the now delisted Delek Real Estate – offered Series 2 holders to by their bonds for 33 million shekels ($9.1 million), which amounts to 36 agorot on the shekel. The alternative, under the terms of Delek’s Real Estate 2012 debt bailout, is for the bondholders to wait till 2020 and hope that Delek Group’s share price will reach 1,200 shekels during at least one quarter of the year. If so, they will get full repayment, but since Delek Group’s share price was just 638.40 shekels as of Thursday, it’s a risky bet. Delek Real Estate’s Series 1 bondholders are being offering full value for the 95 million of bonds they hold. (Shelly Appelberg)
Ofers complete division of family assets
The Ofer family, one of Israel’s wealthiest, completed a division of assets on Thursday aimed at putting their holdings in line with a deadline set by the Business Concentration Law. Eyal Ofer, the son of the late Sami Ofer, took control of all the family’s 22.4% holding in Mizrahi Tefahot Bank, Israel’s third-largest lender. His cousins Liora and Doron Ofer, the heir of the late Yuli Ofer, got control of Ofer Investments, which owns 60.4% of the mall operator and developer Melisron. Liora Ofer will step down as a Mizrahi director after 20 years. The asset swap was done to meet the terms of the law, which bars a single entity from owning major financial and on-financial assets after 2019. Liora Ofer explained her decision to retain control of Ofer Investments and Melisron over the banks as “her complete confidence their potential and portfolio of quality assets.” (Eran Azran)
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Tel Aviv shares sink in heavy trading
Tel Aviv shares ended down 1% on Thursday in heavy trading, tracking a similar fall in U.S. stocks. Bears emerged on Wall Street on fears that the U.S. and China would not be able to reach a trade deal with less than a month left in their fragile truce. The TA-35 and TA-125 indices both ended on almost 1% at 1,538.39 and 1,401.35 points, respectively. Turnover reached 3.2 billion shekels ($880 million)., more than twice the recent daily average. Perrigo was the volume leader, gaining 3% to 174.20 shekels, but biopharma stocks were mostly down sharply. Teva Pharmaceuticals dropped 6%to 67.35 and Opko Health lost 4.2% to 10.07. Israel Chemicals fell 3.8% to 19.85 for a second day of big losses after its poor Q4 earnings report. Cannabis shares continued to provide a speculative sideshow: InterCure soared 10% to close at 13.20 and Dunivo advanced 11.1% to 4.80. (Shelly Appelberg)