OMNIQ Acquires Dangot Computers
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OMNIQ Acquires Dangot Computers

By CIOReview | Monday, May 31, 2021

OMNIQ Corp. has announced that it has entered into a definitive acquisition agreement under which OMNIQ will acquire 51 percent of Dangot Computers Ltd.

FREMONT, CA: OMNIQ Corp., an object identification organization that offers Artificial Intelligence (AI)-based technology solutions to the Safe City, Traffic Management, Public Safety, and Supply Chain Automation markets, announces that it has entered into a definitive acquisition agreement under which OMNIQ will acquire 51 percent of Dangot Computers Ltd. (Dangot), a pioneer in providing cutting-edge technology that enables seamless automated order processing and digital payment processing products for retail, fast food, and parking, integrated workstations for physicians, drug delivery, and blood tests, robotics for smart warehouses, point-of-sale, and other advanced solutions. 

Upon the completion of the acquisition, OMNIQ will pay Dangot's shareholders nearly $7.6 million (based on the exchange rate to the Israeli Shekel), which consists of almost $5.6 million in cash and $2 million in restricted shares determined on the average closing share price over the 30 trading days preceding signing. OMNIQ will have a one-year opportunity to purchase the remaining 49 percent of the company at the same price. After receiving approval from the Israeli Competition Authority, the transaction is expected to close soon.

Shai Lustgarten, Chief Executive Officer of OMNIQ, stated, "Dangots innovative product offerings fit OMNIQs target markets, and as such will be leveraged by our strong sales team in the US market. At the same time, we can accelerate merging our AI products into the supply chain customers served by both companies."

Mr. Lustgarten continued, "I am confident that Dangots impressive customers will play a significant role in using OMNIQs AI solutions to automate their operations and deliver groundbreaking performances and savings. OMNIQ welcomes Dangots founder and CEO Mr. Haim Dangot and the whole Dangot team and congratulates him on creating an impressive global entity that serves the values we both believe in: long term customer satisfaction through innovation, trust, performance and continuous investments in our operation."

Mr. Haim Dangot stated, "I am thrilled to join the OMNIQ team and continue DANGOTs legacy and bring it together to the next level. We have the immediate opportunity to introduce and offer our solutions to the big US market and at the same time offer OMNIQs AI products to our impressive customer base."

Mr. Dangot continued, "The Digital Supply Chain market is indeed a huge market, but also one that is expected to experience even further significant growth in the next coming years. Its growth depends on AI technology. Everything has to be connected. Everything has to happen in real-time to allow proactiveness and thus, efficiencies throughout the supply chain levels of the enterprises we serve. We are very proud of what we have created in Dangot for the last 30 years and together with OMNIQs AI innovation we can now promise our next 30 years of proudly serving our existing and new customers."

Mr. Lustgarten concluded, "These are exciting times for us at OMNIQ. Together with Dangot, we are forging a significant solid foundation in executing our plan that was introduced three years ago. We are proud of the company we are building."