Ness Technologies Sells TSG Subsidiary

Ness Technologies, a portfolio company of The Rohatyn Group (TRG), has entered into an agreement with Israel Aerospace Industries (IAI) and Formula Systems for the sale of its TSG subsidiary, the company said.

TSG is an Israel-based provider of command and control, intelligence and homeland security solutions.

Ness Technologies´ principal businesses include Ness Software Engineering Services (SES), a premier global provider of outsourced engineering services, Ness CEE, a leading provider of IT services in Central & Eastern Europe and SwiftNess, a data & financial clearinghouse for the long-term savings market in Israel.

Israel Discount Capital Markets & Investments Ltd. and Fischer, Behar, Chen, Well, Orion & Co. advised Ness Technologies on the sale.

Ness Technologies is a global provider of IT services with operations across the US, Europe, India and Israel. The company´s portfolio of solutions and services, offered via its Ness SES, Ness CEE and SwiftNess subsidiaries, consists of software product development, system integration and application development and maintenance.

Ness CEE (headquartered in Prague, Czech Republic) is an IT services and solutions provider in Central and Eastern Europe. Ness CEE offers a comprehensive portfolio of systems integration, application development and maintenance services capabilities.

SwiftNess (headquartered in Tel Aviv, IL) is a data & financial clearinghouse for the long-term savings market in Israel which aims to simplify and automate the communication processes of the pension market in Israel.

Founded in 2002, The Rohatyn Group is a leading emerging markets asset management firm. Headquartered in New York, with offices around the globe including, Singapore, Hong Kong, London, Buenos Aires, Lima, Montevideo, Mexico City, São Paulo, Mumbai and New Delhi.

IAI Ltd. is Israel´s largest aerospace and defense company and a globally recognized technology and innovation leader, specializing in developing and manufacturing advanced, state-of-the-art systems for air, space, sea, land, cyber and homeland security. Since 1953, the company has provided advanced technology solutions to government and commercial customers worldwide.

Formula Systems (1985) Ltd. is a global information technology company principally engaged, through its subsidiaries and affiliates, in providing software consulting services, developing proprietary software products, and providing computer-based business solutions.