Two years after the exit, Colisis is suing the Israeli Antarque

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Two years after acquiring it, the American company Colisis is suing the Israeli company Anertech, claiming that it recently misled it about the amount of payments it received from customers.

Read more in Calcalist:

Coolisys Technologies, a subsidiary of DPW Holdings, acquired the Israeli company Anertech in a $ 9 million deal in 2018 ($ 4.75 million in cash and an additional $ 4.25 million in debt). The buyer now claims that in the weeks following the transfer of the company to the buyers, it became clear to her that the amount of payments from customers was 40% lower than what was presented to her. Kolisis is demanding NIS 9.4 million in a lawsuit filed yesterday (Monday) in the Tel Aviv District Court.

Hi-Tech Photo: Shatterstock

Antarctica (MICT) develops and manufactures missile launch systems, control and monitoring systems, computerized automated testing systems, power and power systems, and medical systems. It is also a strategic partner of the defense industry. According to the plaintiff, Antarck claimed during the negotiations that due to her work in the defense sector, the information on her Israeli customers is classified and the buyer had to rely exclusively on the reports presented to her by the company and based on these numbers the company’s value was determined. The defendant details the differences of NIS 7 million between the initial reports it received and those that were handed over to it after the purchase.

In addition, the statement of claim lists a number of additional financial liabilities that were not disclosed at the time of purchase: tax debts of over NIS 800,000, additional management fees collected by the seller in the amount of NIS 1 million and differences in the reported inventory value of almost NIS 700,000.

Kolisis is represented in the lawsuit by Adv. Matan Winkler and Oded Bejarano from the law firm of Gross, Kleinhandler, Hodak, Halevi, Greenberg, Shenhav & Co.

Calcalist asked for a response from attorneys representing the Anthrax company.



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