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Paragon sale completed before Defense Ministry approval

Last month, cyberattack company Paragon Solutions was reportedly acquired by US private equity firm AE Industrial Partners for $900 million. Israel's Ministry of Defense initially announced that it had not approved the sale, but it has since been revealed that the deal had already been completed and payment had been transferred in compliance with regulations. The Ministry of Defense received an official report from the company about the change of ownership, which is required by law after the deal is signed. The Ministry of Defense is currently conducting an examination. The deal includes a cash payment of $500 million and another $400 million subject to meeting targets.

Original article source: https://en.globes.co.il/en/article-paragon-sale-completed-before-defense-ministry-approval-1001500864
Source Id: 8523857020

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