A major deal in Israeli high-tech: The veteran company was acquired for tens of millions

The IT and integration group Malam Team announced on Monday the acquisition of the company Foretech Software (FORETECH), one of the veteran and leading companies in Israel in the field of software solutions and corporate information security, for tens of millions of shekels.

As part of the deal, Foretech will become a subsidiary of Malam Team and will join the operations of the group's software products division, which centralizes the representation, distribution, and implementation of leading software solutions in the fields of cyber, automation, data management, and organizational infrastructure.

The deal is another step in implementing Malam Team's growth strategy and strengthens its position as a leading IT company in Israel. Through the acquisition, the group expands the activities of the software products division and the range of solutions in the cyber field, including: information security, identity and access management (Identity Security), Privileged Access Management (PAM), secure remote access, endpoint protection, corporate cyber solutions, and access management for cloud environments and critical infrastructure — areas enjoying growing demand among organizations in Israel and worldwide.

Foretech Software has been operating for over two decades and provides software solutions in the field of information security and cyber to hundreds of organizations from the public, defense, financial, and business sectors. The company specializes in consulting, implementation, integration, and support for advanced solutions in the field.

One of the company's core assets is its status as a leading partner in Israel of BeyondTrust, one of the world's leading companies in the field of Privileged Access Management (PAM). The Foretech expert team will continue to lead the company's operations from Malam Team's offices.

Shay Basson, CEO of Malam Team:

"The acquisition of Foretech Software is another strategic move in realizing Malam Team's growth vision, including in the group's software products activity. Foretech brings with it deep expertise, many years of experience, partnerships with leading international manufacturers, and a first-rate professional team. The combination of Foretech's capabilities with the power, presence, and multidisciplinary capabilities of Malam Team will significantly expand the capabilities of the software products division in the field of cyber and identity management, strengthen collaborations with leading software manufacturers in the world, and provide our customers with one of the broadest and leading software, cyber, and technology solution portfolios in Israel."

Alon Yaakov, CEO of Foretech Software:

"I am proud to merge Foretech into the leading group in the IT market in Israel, which was a home for me already in the early 2000s. Malam Team is first and foremost people, organizational culture, and a solid professional body. The technological and business backing of the group gives us the precise platform for growth, and together we will continue to expand the activity and bring our customers the most advanced software and cyber solutions in the world."

The software products division at Malam Team is one of the largest and leading in Israel. The division represents and markets dozens of leading international software manufacturers and provides advanced solutions in the fields of integration, DevOps, data management, automation, artificial intelligence, cyber, information security, identity management, and software infrastructure. The division provides a full envelope including consulting, licensing, implementation, service, and professional support, and accompanies hundreds of organizations from the public, defense, and business sectors in strategic digital transformation projects.

Malam Team is one of the largest and leading IT groups in Israel. The group provides end-to-end solutions in the fields of AI, software, cloud, data, cyber, ERP, CRM, infrastructure, managed services, payroll systems, and human resource management. The group accompanies thousands of organizations from the public, defense, financial, and business sectors and leads national and strategic digital transformation projects in Israel.