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We are excited to announce that Poalim Asia Direct served as financial advisor for a first-of-a-kind transaction, in which, an Israeli Company, Pegasus Technologies, was sold to Yifang Digital a Chinese Company, in a combined stock and cash transaction.
Pegasus Technologies developed a digital pen for use in a computer environment. Founded in 1991, it has focused on the Far East markets primarily Japan and China since 2000, distributing its digital pen products.
Poalim Asia Direct, based in Beijing, was established approximately one year ago, as a partnership between Poalim Capital Markets and Asia Direct. The company, managed by Gal Dymant, provides investment banking, business development and strategic consulting services to companies seeking to operate in the Chinese market, and in recent years has also supported Pegasus in its penetration into China.
According to Gal Dymant, CEO of Poalim Asia Direct, until recently, the activity of foreign companies in China focused mostly on joint ventures with Chinese companies. Mergers and Acquisitions, were almost non-existent in China due to regulatory limitations, but have now opened up. Chinese companies are beginning to take an interest in acquiring foreign companies and the Pegasus transaction may be the first to herald additional potential transactions.
Amir Aviv, President and CEO of Poalim Capital Markets, said: "China is a very complex business environment, with a different business culture and different regulation, which requires the mediation of a high-quality body, having experience and a deep understanding of the Chinese market".
"We are proud to be part of a first-of-a-kind transaction in which a Chinese company acquired an Israeli company, and we see Poalim Asia Direct as an important bridge for our customers and for the bank's customers, which provides a comprehensive solution for any Israeli company looking to do business in China", Aviv added.
Attached is the article published in The Marker last week
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