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Yael Technology Division acquires PRODAC
Tel-Aviv, March 31, 1998 - PRODAC Systems Ltd. announced today that it has been acquired by the Technology Division of the Yael Group.
Founded in 1992, PRODAC is a leading provider of innovative, state-of-the-art MES solutions to the process manufacturing industry. The company’s PRODAC TM line of software is a comprehensive suite of MES modules specially designed for the beverage industry that has successfully been implemented at beverage manufacturers worldwide. PRODAC and its clients will benefit from the global reach, financial resources, manufacturing expertise and technical prowess of the group. This new alliance allows PRODAC to aggressively pursue its strategy of continued product enhancement and market penetration.
The Yael Technology Division is made up of six high-tech companies, among them:
YAEL Software- a prominent system integrator based in Israel with over 35 years of experience in software R&D, system implementation and support. Yael works closely with IBM and Digital and has also been responsible for the development, implementation and support of major logistics systems for the Israel Air Force and Ground Force, health care and financial institutions.
Surecomp- a leading provider of international banking software solutions, to date implemented in over thirty countries around the world.
LiveLink- a developer of Internet based solutions for document delivery and document enrichment engines.
The Technology Division employs over 650 professionals with corporate offices in Toronto and development and support sites in Tel Aviv, New Jersey, London and Hong Kong. The division’s size and diversity allows it to maintain systems expertise in a wide range of fields, among these in client/server Windows and UNIX environments as well as in object-oriented database technologies.
The Yael Group enjoys a substantial financial stronghold in the building materials industry. An international leader in the manufacture of roofing materials, Yael's mother company maintains more than 11 production plants in Europe and North America.
Yael’s technical, marketing and financial resources add momentum to the already skillful and experienced PRODAC team and reinforce PRODAC’s commitment to existing customers and distributors. This new strategic alliance will further PRODAC’s aim to expand its global presence in the beverage industry and to capture a dominant role in the emerging market for Manufacturing Execution Systems in related process industries. According to PRODAC’s business development manager and founder Akiva Amir, "our new shareholders bring to PRODAC the skills, background and vision required to propel PRODAC to be the market leader.”
Jonathan Koschitzky has assumed the position of President of PRODAC. Prior to this appointment, Koschitzky held the position of marketing director at Yael Software. Holding a Masters degree in electrical engineering from Columbia University, Koschitzky brings to PRODAC considerable manufacturing experience as well, most recently in his role as director of one of the Group’s manufacturing divisions in Canada. “I am excited about the opportunity this acquisition gives the Yael Group, as well as the challenge of directing PRODAC into a phase of dynamic growth,” said Koschitzky. |
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