BRG to buy NSO counter-drone unit Convexum for $29m

Published date04 August 2022
Publication titleGlobes (Rishon LeZion, Israel)
According to the new agreement, BRG, through the Noal Fund that it controls, will acquire the company from the trustee Adv. Ori Gaon, for $29 million including $9 million in medium-term financing for the company, partly from cash in the counter-drone company, $7.5 million to the company's creditors, injecting $11.5 million cash into the company and a $1.25 million fee for Adv. Gaon

In the trustee's request to approve the deal, details of offers from Convexum that were not accepted have been revealed. Qumra venture capital $16 million to buy the startup and keep 80% of its employees while Fortissimo Fund submitted a bid of $24 million.

Under the agreement signed, Noal has committed to keep all...

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