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Viola Private Equity Acquires Approx. 20% of Orad Hi Tec (OHT)
March 10, 2010
Viola Private Equity Acquires Approx. 20% of Orad Hi Tec (OHT)
Herzeliya, Israel, March 2010 – The Viola Private Equity Fund acquired approximately 20% of Orad Hi-Tec Systems (Frankfurt: OHT) for $5.9M, thereby becoming the largest shareholder of the Company. The Fund acquired its shares from the investment company, Lehman Brothers. With this share purchase, and subject to the approval of the Orad’s Board of Directors and General Shareholders Meeting, Osnat Ronen, a partner at Viola Private Equity, is expected to join Orad’s Board of Directors.
This is the third investment of the Viola Private Equity Fund which manages $164M. The Fund has previously invested in Amiad Filtration Systems and Aeronautics.
Orad Hi-Tec Systems is a world-leading provider of real-time 3D broadcast graphics solutions. Orad’s solutions are used in news, channel branding, the production and improvement of sport broadcasting, elections and special events broadcasting, virtual studios, and virtual advertisement. Orad’s solutions streamline production workflow, enhance viewer experience, and improve production value. The Company has widespread and long-term relationships with a variety of leading broadcasting companies throughout the world, particularly in Europe, such as Turner, ESPN, CANAL+ and others. Founded in 1993, Orad is a public company listed on the Frankfurt Stock Exchange (OHT).
In recent years the Company showed consistent annual growth of approximately 20% and maintained high profitability. At the beginning of 2009, like other companies in its field, Orad was influenced by the worldwide economic crisis but has since shown an impressive recovery due to the improvement in the marketplace and the Company’s active measures. In 2009, the Company’s sales were $26.9M and its net profit was $2.2M. The Company’s gross profit stood at approx. 67% and it has $17.3M in cash reserves, $2.5M of which were generated in 2009.
Osnat Ronen, General Partner in Viola Private Equity, commented: “Orad operates in an attractive niche of the broadcasting industry and benefits from the market’s need for continued innovation. We were impressed with the Company’s technological capabilities, its leadership, its global reputation and its market position. We found the Company’s management to be experienced and talented; Management has led the Company to impressive performance and dynamic innovation over the years. We are headed towards a long-term partnership that will lead the Company to continued growth and success”.
Avi Sharir, Orad’s CEO, added: “I am pleased that Viola Private Equity has become a shareholder in our Company and believe that they will play an important role in the future development of the Company”.
About Viola Private Equity
Viola Private Equity is a buyout and growth capital technology fund focusing on investments in established, private or public technology companies. The Fund may also invest in other growth phase companies with proven activity outside of Israel. The Fund acquires substantial holdings in companies, by investing directly in the companies and/or acquiring holdings from existing shareholders, with the aim of leading and contributing to their development and growth. Amongst Viola PE’s investments are: Aeronautics Systems and Amiad Filtration Systems.
Founded in 2008, Viola Private Equity is managed by four seasoned partners – Harel Beit-On, Osnat Ronen, Jonathan Kolber and Sami Totah – all of whom have extensive private equity and company building experience.
Viola Private Equity is an affiliate of the Viola Group, a private equity investment group with nearly $2B under management, focused on technology-based investment opportunities in Israel.
About Orad
Orad is a supplier of technological solutions. The Company was founded in 1993 and has been traded on the Frankfurt Stock Exchange since 1999. The founders of the Company are Miki Tamir and Avi Sharir, who is also the CEO of the Company. Orad employs 180 people, 100 of which are in Israel, 30 in the Company’s R&D center in Poland and the rest in various representative offices throughout the world, including USA, Brazil, France, Germany, UK, Hong Kong and China.
Herzeliya, Israel, March 2010 – The Viola Private Equity Fund acquired approximately 20% of Orad Hi-Tec Systems (Frankfurt: OHT) for $5.9M, thereby becoming the largest shareholder of the Company. The Fund acquired its shares from the investment company, Lehman Brothers. With this share purchase, and subject to the approval of the Orad’s Board of Directors and General Shareholders Meeting, Osnat Ronen, a partner at Viola Private Equity, is expected to join Orad’s Board of Directors.
This is the third investment of the Viola Private Equity Fund which manages $164M. The Fund has previously invested in Amiad Filtration Systems and Aeronautics.
Orad Hi-Tec Systems is a world-leading provider of real-time 3D broadcast graphics solutions. Orad’s solutions are used in news, channel branding, the production and improvement of sport broadcasting, elections and special events broadcasting, virtual studios, and virtual advertisement. Orad’s solutions streamline production workflow, enhance viewer experience, and improve production value. The Company has widespread and long-term relationships with a variety of leading broadcasting companies throughout the world, particularly in Europe, such as Turner, ESPN, CANAL+ and others. Founded in 1993, Orad is a public company listed on the Frankfurt Stock Exchange (OHT).
In recent years the Company showed consistent annual growth of approximately 20% and maintained high profitability. At the beginning of 2009, like other companies in its field, Orad was influenced by the worldwide economic crisis but has since shown an impressive recovery due to the improvement in the marketplace and the Company’s active measures. In 2009, the Company’s sales were $26.9M and its net profit was $2.2M. The Company’s gross profit stood at approx. 67% and it has $17.3M in cash reserves, $2.5M of which were generated in 2009.
Osnat Ronen, General Partner in Viola Private Equity, commented: “Orad operates in an attractive niche of the broadcasting industry and benefits from the market’s need for continued innovation. We were impressed with the Company’s technological capabilities, its leadership, its global reputation and its market position. We found the Company’s management to be experienced and talented; Management has led the Company to impressive performance and dynamic innovation over the years. We are headed towards a long-term partnership that will lead the Company to continued growth and success”.
Avi Sharir, Orad’s CEO, added: “I am pleased that Viola Private Equity has become a shareholder in our Company and believe that they will play an important role in the future development of the Company”.
About Viola Private Equity
Viola Private Equity is a buyout and growth capital technology fund focusing on investments in established, private or public technology companies. The Fund may also invest in other growth phase companies with proven activity outside of Israel. The Fund acquires substantial holdings in companies, by investing directly in the companies and/or acquiring holdings from existing shareholders, with the aim of leading and contributing to their development and growth. Amongst Viola PE’s investments are: Aeronautics Systems and Amiad Filtration Systems.
Founded in 2008, Viola Private Equity is managed by four seasoned partners – Harel Beit-On, Osnat Ronen, Jonathan Kolber and Sami Totah – all of whom have extensive private equity and company building experience.
Viola Private Equity is an affiliate of the Viola Group, a private equity investment group with nearly $2B under management, focused on technology-based investment opportunities in Israel.
About Orad
Orad is a supplier of technological solutions. The Company was founded in 1993 and has been traded on the Frankfurt Stock Exchange since 1999. The founders of the Company are Miki Tamir and Avi Sharir, who is also the CEO of the Company. Orad employs 180 people, 100 of which are in Israel, 30 in the Company’s R&D center in Poland and the rest in various representative offices throughout the world, including USA, Brazil, France, Germany, UK, Hong Kong and China.