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February 21, 1997updated 05 Sep 2016 12:37pm

IBM ISRAEL TO TAKE CONTROL OF TADIRAN SUBSIDIARY

By CBR Staff Writer

IBM Israel Ltd, Tel Aviv is to take a 51% stake in the Tadiran Information Systems subsidiary of Tadiran Ltd, Holon, Israel, paying $9.4m in cash and assets. The two sides will merge their facilities management businesses, which Tadiran estimates would do about $50m this year; it adds that the combined companies had a backlog of orders of about $73m. The idea is that Tadiran Information Systems will become the facilities management arm of IBM Israel and part of the worldwide service network of IBM Global Services. IBM Israel will pay Tadiran Ltd $5.5m in cash and will transfer assets worth $3.9m for the stake. And IBM will also transfer contracts of an unspecificed value to Tadiran Information Systems. Tadiran Information Systems specializes in real-time software packages for military and commercial applications and information management systems. It had sales of $30m in 1995 – 1996 figures aren’t yet in.

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