Matrix, a leading IT services company in Israel, announced that it is acquiring 60% of EXZAC Inc.
EXZAC is a leading provider of risk management solutions to financial institutions. The company offers solutions in three main operation lines: fraud management and prevention, anti money laundering and compliance. Among its customers are major financial institutions all over the world, including: Deutsche Bank, CitiBank, CFTC (US Commodity Futures Trading Commission), HSBC, Wells Fargo, Bank of Tokyo, Barclays Capital, among others. Signal Hill acted as exclusive financial advisor to EXZAC in connection with this transaction.
Moti Guttman, Matrix CEO: “The acquisition of EXZAC is a pivotal point for Matrix. We have determined to be exposed to the American market through the purchase of a successful, self-made company that matches the same content worlds in which Matrix specializes. EXZAC fits this definition completely. Guy and Alon, the founders of the company and its managers in the years to come, have been smart in creating a unique value and presenting an impressive growth with the leading banks in America and worldwide, in areas of expertise that are both desired and critical to their activity – regulatory compatibility, fraud prevention and anti money laundering. The impressive customer base, the company’s reputation, the managers’ reputation and the nature of its relationship with its customers bring Matrix a plethora of opportunities for future expansion with these customers in Matrix’s areas of expertise and varied offerings that appeal to enterprise organizations and especially to those in the financial sector.”
Guy Avtalion, EXZAC Co-CEO said, "the fraud management area of operation is considered a “hot” area and is characterized by a rapid growth rate in the USA, in Israel and worldwide. This is due in part to the multiple regulations in the area, in its complexity and constant changes. For these reasons, and based on the meticulous selection of employees and uncompromising professionalism, EXZAC has been constantly growing and expanding since its establishment. We are happy and proud to join the Matrix family. We have found in Matrix a variety of high-quality skills and specialties that suggest a synergy between the two companies and are relevant to the further expansion of EXZAC.”
Matrix, which employs 5,100 IT professionals, is a leading information technology company in Israel. The company develops and implements technologies, software solutions and products, as well as provides infrastructure and consulting services, outsourcing, offshore, training and assimilation.