• OMNIQ acquired 51% on July 1, 2021.
• OMNIQ exercised its option to acquire the remaining shares by acquiring an additional 26% from October 1, 2021 and an additional 23% from April 1, 2022, Dangot Computers (Dangot), a wholly owned (100%) subsidiary of OMNIQ.
• Dangot is a leading profitable player in the field of automation and frictionless equipment for several vertical sectors such as healthcare, retail, restaurants and warehouse automation.
• Synergy between OMNIQ and Dangot already generated joint projects with OMNIQ’s AI technology and Dangot’s sophisticated automation solutions.
• OMNIQ’s consolidated turnover with Dangot reached $24.9 million in the fourth quarter of 2021, marking the $100 million run rate milestone.
• OMNIQ’s Fortune 500 customers represent a significant market opportunity for Dangot’s innovative solutions, focusing, among others, on the food and medicine, medical, retail and transport and logistics sectors.
• Under the option, OMNIQ paid the amount of $3.5 million for the additional 23% of Dangot’s shares.
• Acquisition financed by working capital and a direct loan (without equity ingredient) from a commercial bank.
SALT LAKE CITY, April 05, 2022 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (OMNIQ” or the “Company”), a provider of supply chain and artificial intelligence (AI)-based machine vision solutions, has acquired an additional 23% of Dangot Computers Ltd, increasing makes it a wholly-owned (100%) subsidiary, effective April 1, 2022. The Company paid $3,518,000 in consideration for the year of which $3.1M was funded through a combination of short and long-term .
Dangot is a profitable and leading player in the field of automation and frictionless equipment. Its systems have earned an excellent reputation and significant market share in the demanding Israeli market, providing innovative solutions globally for multiple vertical markets including healthcare, retail, restaurants and food automation. warehouses.
Dangot’s fiscal 2021 standalone revenue was approximately $40 million, with pretax profit of approximately $2 million.
OMNIQ recently announced some of Dangot’s achievements:
• On March 22, 2022, OMNIQ announced a purchase order to supply a smart digital pricing system to 42 branches of a dynamic supermarket chain in Israel
• On March 14, 2022, OMNIQ announced the deployment of 1,000 units of a “Smart Buy and Go” (SBG) solution for a supermarket chain; Plans to soon offer SBG to Fortune 500 clients operating in an estimated $1.0 trillion industry
• On December 3, 2021, a joint OMNIQ-Dangot project: OMNIQ receives an order of approximately $1 million for smart kiosks in the United States
Shai Lustgarten, CEO of OMNIQ, said, “Our momentum continues to grow at a breathtaking rate since the acquisition of Dangot, when we first announced the acquisition, we reported that annual sales combined have created a consolidated company of $91 million. today, I’m more than happy to say, our annualized revenues have exceeded $100 million in just nine months. Additionally, we are already doing joint projects in Israel and the United States and believe we expect to have many more soon. Dangot’s innovative product offerings align with OMNIQ’s target markets and as such will be leveraged by our strong sales team in the US market. At the same time, we can accelerate the merger of our AI products with supply chain customers served by both companies. Our enterprise customers have everything to gain from having access to these cutting-edge solutions that fill the gaps where current technology falls short. »
About OMNIQ Corp.
OMNIQ Corp. provides computerized image processing and machine vision solutions that use patented and proprietary artificial intelligence technology to provide real-time data collection, monitoring and control for supply chain management, homeland security, public safety, traffic and parking management and access control applications. The company’s technology and services help customers move people, assets and data securely across airports, warehouses, schools, national borders and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies across multiple industries, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, oil, gas and chemicals. Since 2014, annual revenue has reached over $50 million from customers in the United States and overseas.
The company currently addresses several billion-dollar markets, including the global safe cities market, which is expected to reach $29 billion by 2022, and the secure ticketless parking market, which is expected to reach $5 billion. $2 billion by 2023. For more information, visit www.omniq.com.
Information about forward-looking statements
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