OMNIQ Closes its Previously Announced Notice to Acquire an Additional 26% of Dangot Computers Increasing its Ownership of Dangot Computers to 77%
SALT LAKE CITY, Nov. 30, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ: OMQS) (“OMNIQ” or the “Company”), a provider of Supply Chain and Artificial Intelligence (AI)-based Machine Vision solutions, has closed on its previously announced notice to acquire an additional 26% of Dangot Computers Ltd. (“Dangot”) increasing OMNIQ’s ownership to 77% , effective from October 1st, 2021. The Company has paid $4,035,000 from its working capital and a straight loan from an Israeli commercial bank.
Dangot is a profitable prominent player in the field of automation and frictionless equipment. Its systems have gained an excellent reputation and significant market share in the demanding Israeli market, offering worldwide innovations to multiple verticals like healthcare, retail, restaurants and warehouse automation.
Based on the five months of working together, management of OMNIQ strongly believes that Dangot’s innovative product offerings fit OMNIQ’s target markets, and as such will be leveraged by its strong sales team in the US market. At the same time, OMNIQ believes it can accelerate merging its AI products into the supply chain customers served by both companies.
About OMNIQ Corp.
OMNIQ Corp. provides computerized and machine vision image processing solutions that use patented and proprietary AI technology to deliver data collection, real-time surveillance and monitoring for supply chain management, homeland security, public safety, traffic & parking management, and access control applications. The technology and services provided by the Company help clients move people, assets, and data safely and securely through airports, warehouses, schools, national borders, and many other applications and environments.
OMNIQ’s customers include government agencies and leading Fortune 500 companies from several sectors, including manufacturing, retail, distribution, food and beverage, transportation and logistics, healthcare, and oil, gas, and chemicals. Since 2014, annual revenues have grown to more than $50 million from clients in the USA and abroad.
The Company currently addresses several billion-dollar markets, including the Global Safe City market, forecast to grow to $29 billion by 2022, and the Ticketless Safe Parking market, forecast to grow to $5.2 billion by 2023. For more information, visit www.omniq.com.
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