Ness will remain headquartered in Tel Aviv and Teaneck, New Jersey, and Ness’s president and CEO Sachi Gerlitz and CFO will keep their jobs.
As part of the merger, Ness subsidiaries Ness USA Inc. obtained a $63 million loan, and its Dutch units Ness Technologies (East) BV and Ness Europe BV, and Israeli unit Ness A.T. Ltd. obtained a $163.5 million loan from Bank Hapoalim (TASE: POLI). The loans are guaranteed by CVCI.
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