FIMI to Buy 55% of MMD Smart for About $55 Million
Published
Israeli private-equity fund FIMI plans to acquire a 55% stake in MMD Smart, a customer-communications software company, for about $55 million. Reports put the company's pre-investment value at about $100 million and say most of the money will go into MMD Smart to fund its expansion. Founded in 2008, MMD Smart provides cloud tools for business messaging across SMS, RCS, WhatsApp, Viber and Telegram, as well as voice and email. Co-founders Aryeh Frankel, its chief executive, and Leonid Rubinov, who oversees business development, are expected to retain the remaining shares and continue in their roles.