OMNIQ Corp Gives Notice to Acquire an additional 26% of Dangot Computers increasing its ownership of Dangot Computers to 77%

SALT LAKE Metropolis, Nov. 19, 2021 (GLOBE NEWSWIRE) — OMNIQ Corp. (NASDAQ :OMQS) (OMNIQ” or the “Agency”), a supplier of Current Chain and Synthetic Intelligence (AI)-based mostly Machine Imaginative and prescient options, introduced the acquisition of An further 26% of Dangot Computer systems Ltd. (“Dangot”) developing OMNIQ’s possession to 77%. Dangot is A pacesetter in professionalviding State-of-the-artwork know-how enabling frictionless automated order professionalcessing & digital cost professionalcessing merchandise for retail, quick meals and parking, integpriced working stations for physicians, drug shipy and blood checks, robotics for smartwork warehouses, level of gross sales and completely different revolutionary options.

OMNIQ, notified The vendor of the Partworkial Practice of its Selection Based on the Inventory Buy Settlement, dated Might 3, 2021.
OMNIQ Pays for The further 26% based mostly on the Israeli Shekel foreign money valuation (which has since elevated As a Outcome of of commerce price variations) and is valued at approfessionalximately $4,136,000.
The company Will not problem any equity in Reference to the transaction.
Closing of the exercise Is predicted on November 24, 2021.
Constrongated OMNIQ and Dangot professional forma income for fiscal yr 2020 portions to approfessionalximately $91M.
OMNIQ acquired 51% of Dangot possession efficient July 1st, 2021, with a 12 month Selection To accumulate the reprimarying 49%, of which, the acquisition of 26% was professionalvided as an official discover for quick execution earlier this week, by omniQ.
On November 2021, Dangot Computer systems Ltd was awarded with an approfessionalximate $2 Million order for Clever Well beingcare Cartworks (IHC) from Israel’s Largest Well being Upkeep Group (HMO)
On August 3, 2021, OMNIQ introduced that Dangot will professionalvide its self-service kiosks to Aroma Espresso Bar (Aroma), The Most very important espresso chain in Israel with branches Inside the US, Canada and completely different nations. In accordance to a Forbes artworkicle titled “Self-Order Kiosks Are Lastly Having A Second In The Fast Food Space”, written by Alicia Kelso (1) , It is predicted thOn the self-service kiosk market will attain $30.8 billion by 2024.
Dangot Computer systems Ltd (Dangot) is an Israeli based mostly chief in professionalviding revolutionary utilized sciences collectively with: frictionless automated order professionalcessing & digital cost professionalcessing merchandise for the retail, quick meals and parking markets; integpriced work stations for physicians, drug shipy and blood checks; robotics for smartwork warehouses; level of gross sales, self-look at in administration, and completely different State-of-the-artwork options.
Dangot has A strong and diversified purchaseer base collectively with hospitals, logistic facilities, supermarkets, manufacturing crops, retail chains, eating places, municipalities, and authorities enterprisees.
Dangot’s affect with early adopter purchaseers collectively with a quantity of AI pilots provides A very engaging alternative to acceleprice adoption of OMNIQ’s professionalprietary AI options to automate The supply chain and operations.
OMNIQ’s Fortune 500 purchaseers professionalvide An monumental potential new Market for Dangot’s revolutionary options, focused, amongst completely differents, on the Food & Drug, Medical, Retail and the Transportation & Logistics, markets.

Based on Pro Forma 2020 end outcomes, the acquisition creates a mixed $91 Million income supplier of automation and object identification options.

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OMNIQ is paying The solely shareholder of Dangot An complete Of roughly $4,136,000 million. OMNIQ Might have an Selection To accumulate the reprimarying 23% On The identical Israeli Shekel valuation.

Dangot is a excellent participant Inside The sector of automation and frictionless gear. Its methods have gained An excellent popularity and vital market share Inside the demanding Israeli market, offering worldwide improvements to a quantity of verticals like healthcare, retail, eating places and warehouse automation.

Based on the 4 and a half months of working collectively administration of OMNIQ strongly think abouts that Dangot’s revolutionary professionalduct choices match OMNIQ’s goal markets, and as such Shall be leveraged by its strong gross sales group Inside the US market. At The identical time, OMNIQ think abouts It might acceleprice merging its AI merchandise into The supply chain purchaseers served by each corporations.

Shai Lustgartworken, CEO of OMNIQ commented: “As we indicated in our earlier bulletins, We’re very Proud of the Dangot acquisition, it’s contrihoweverion to our monetary end outcomes has alstudyy been illustpriced in our Q3 end outcomes. Furtherextra Dangot has gained a strong presence Inside the Israeli market professionalviding automation options for primary markets like healthcare and retail. These are markets that OMNIQ alstudyy sells to and has A pair of of The Most very important and most prestigious purchaseers Inside the US. We now have alstudyy startworked to introduce Dangot’s options to A pair of of our purchaseers Inside the US and have acquired very enthusiastic feed backs, Which evokes us to anticipate some quick preliminary end outcomes. Furtherextra, we have An fantastic group to work with at Dangot enabling quick and frictionless integration for The complete OMNIQ success”.

About OMNIQ Corp.

OMNIQ Corp. professionalvides computerized and machine vision picture professionalcessing options that use patented and professionalprietary AI know-how to ship knowledge assortment, exact-time surveillance and monitoring for supply chain administration, homeland safety, public safety, go toors & parking administration, and entry administration purposes. The know-how and providers professionalvided by the Agency assist consumers transfer people, belongings, and knowledge safely and securely by way of airports, warehouses, schools, nationwide borders, And a lot of completely different purposes and environments.

OMNIQ’s purchaseers embrace authorities enterprisees and main Fortune 500 corporations from a quantity of sectors, collectively with manufacturing, retail, distrihoweverion, meals and beverage, transportation and logistics, healthcare, and oil, gasoline, and chemical compounds. Since 2014, annual incomes have developn to Greater than $50 million from consumers Inside the USA and overseas.

The company presently addresses a quantity of billion-greenback markets, collectively with The worldwide Protected City market, forecast to develop to $29 billion by 2022, and the Ticketless Protected Parking market, forecast to develop to $5.2 billion by 2023. For extra information, go to www.omniq.com.

Particulars about Forward-Wanting Assertions

“Protected Harbor” Assertion beneath the Private Securities Litigation Reform Act of 1995. Assertions On this press launch Referring to plans, stpricegies, financial efficiency and tendencies, professionaljections of end outcomes of partworkicular actions or investments, and completely different statements That are not descriptions of historic details Could Even be forward-looking statements Contained in the which Stpricegy of the Private Securities Litigation Reform Act of 1995, Part 27A of the Securities Act of 1933 and Part 21E of the Securities Exchange Act of 1934.

This launch incompanys “forward-looking statements” that embrace information Referring to future occasions and future monetary and working efficiency. The phrases “anticipate”, “may,” “would,” “will,” “anticipate,” “estimate,” “can,” “think about,” “potential” and comparable expressions and variations thereof are meant to decide forward-looking statements. Forward-looking statements Ought to not be study as a guarantee of future efficiency or end outcomes, And gained’t primarily be right indications of the occasions at, or by, which that efficiency or these end outcomes Shall be achieved. Forward-looking statements are based mostly on information out there On the time They’re made and/or administration’s good religion notion as of That time with respect to future occasions, and are topic to hazards and uncertainties That would set off exact efficiency or end outcomes To vary materially from these expressed in or suggested by the forward-looking statements. Examples of forward-looking statements embrace, amongst completely differents, statements made On this press launch relating to the closing of the private placement and Using professionalceeds acquired Inside the private placement. Important elements That would set off these variations embrace, however Aren’t restricted to: fluctuations in demand for the Agency’s merchandise notably Through The present health disaster , the introduction Of latest merchandise, the Agency’s capability To take care of purchaseer and stpricegic enterprise relationships, the influence of aggressive merchandise and pricing, progress in focused markets, the adequacy of the Agency’s liquidity and monetary power to assist its progress, the Agency’s capability to handle credit rating and debt buildings from distributors, debt holders and secured lenders, the Agency’s capability to effectively integprice its acquisitions, and completely different information That Could be detailed from time-to-time in OMNIQ Corp.’s filings with America Securities and Exchange Fee. Examples of such forward looking statements On this launch embrace, amongst completely differents, statements relating to income progress, driving gross sales, operational and monetary initiatives, value discount and professionalmatchcapability, and simplification of operations. For a extra detailed description of The hazard elements and uncertainties affecting OMNIQ Corp., please Check with the Agency’s current Securities and Exchange Fee filings, Which Could Even be found at https://www.sec.gov. OMNIQ Corp. beneathtakes no obligation to publicly replace or revise any forward-looking statements, whether or not Due to new information, future occasions or completely differentwise, till completely differentwise required by regulation.

Investor Contact:
James Carbonara
Hayden IR
(646)-755-7412
[email protected]

Brett Maas
Hayden IR
(646) 536-7331
[email protected]

About OMNIQ Corp.

omniQ Corp. (OTCQB: OMQS) professionalvides computerized and machine vision picture professionalcessing options that use patented and professionalprietary AI know-how to ship knowledge assortment, exact-time surveillance and monitoring for supply chain administration, homeland safety, public safety, go toors & parking administration, and entry administration purposes. The know-how and providers professionalvided by the Agency assist consumers transfer people, belongings, and knowledge safely and securely by way of airports, warehouses, schools, nationwide borders, And a lot of completely different purposes and environments.

omniQ’s purchaseers embrace authorities enterprisees and main Fortune 500 corporations from a quantity of sectors, collectively with manufacturing, retail, distrihoweverion, meals and beverage, transportation and logistics, healthcare, and oil, gasoline, and chemical compounds. Since 2014, annual incomes have developn to Greater than $50 million from consumers Inside the USA and overseas.

omniQ currently introduced the closing of its acquisition of 51% of the capital stock of Dangot. omniQ has an option To purchase the reprimarying 49% of the capital stock. Dangot is an Israeli based mostly chief in professionalviding revolutionary utilized sciences collectively with: frictionless automated order professionalcessing & digital cost professionalcessing merchandise for the retail, quick meals and parking markets; integpriced work stations for physicians, drug shipy and blood checks; robotics for smartwork warehouses; level of gross sales, self-look at in administration, and completely different State-of-the-artwork options.

Source: https://finance.yahoo.com/news/omniq-corp-gives-notice-acquire-134500087.html