FIMI buys control of communications co MMDSmart
FIMI Opportunity Funds acquires 55% of MMDSmart for $55 million. The investment will fund growth of the cloud-based communications platform, which serves global enterprise clients via SMS, WhatsApp, and other digital channels. Founders remain in management roles. The company operates globally with annual revenue of about NIS 500 million, serving telecom carriers, tech firms, and digital agencies. FIMI plans to drive growth by expanding global operations and broadening its technological portfolio. Founded in 1996, FIMI is Israel's largest private equity fund with over $11 billion in assets under management.
Israeli private equity firm FIMI Opportunity Funds, managed by Ishay Davidi, has acquired a 55% controlling stake in communications services company MMDSmart for $55 million. Most of the proceeds will go to the company to fund growth. MMDSmart, founded in 2008 by CEO Arie Frenklakh and general manager Leonid Rubanov, who will continue in their roles, has developed cloud-based software systems that allow enterprises to communicate with customers via mobile messaging (SMS and RCS), WhatsApp, Viber, Telegram, voice calls, email, and other digital channels. The company operates primarily in the global market with annual revenue of about NIS 500 million, serving telecommunications carriers, technology firms, digital marketing agencies, app developers, and customer service centers worldwide through subsidiaries in Israel, Bulgaria, Singapore, and other countries. FIMI plans to work with management to drive growth by expanding global operations, deepening customer engagement, and broadening its technological portfolio. Founded in 1996, FIMI is Israel's first and largest private equity fund with over $11 billion in assets under management, having acquired control of 109 companies and sold 78 with total deal value exceeding $9 billion.