Fortissimo buys 77% stake in Sela Software
Israeli private equity firm Fortissimo Capital has announced that it is acquiring a 77% stake Sela Software from its founders, David Bassa and Caro Segal. Sela Software is one of the largest cloud services providers in Israel and has 300 employees in Israel and abroad. No financial details about the deal were disclosed, Trend reports with reference to Globes.
In addition to its cloud activity, the company manages a software solutions center led by global and local software experts, and operates the Sela College, an education center through which it trains hundreds of employees a year in advanced software and cloud technologies.
As part of the acquisition, Fortissimo has appointed Ron Sprinzak as Sela Software CEO. Sprinzak previously spent 13 years at Microsoft where he held several sales and management positions, the last of which was VP Enterprise Israel.
Sela provides comprehensive cloud services such as migration to the cloud environment, managed services, architecture, performance improvement, infrastructure management, monitoring, DevOps, consultancy, and internal training sessions for organizations’ employees. The company collaborates with the three largest cloud service providers in the world (Microsoft, Google and Amazon) and offers its clients advanced multi-cloud services.
Sela was founded in 1990 by David Bassa and Caro Segal to bring the most advanced tech knowledge to Israel's tech industry. Fortissimo founder and managing partner Yuval Cohen said: "The cloud market is growing rapidly and is expected to continue to expand at this rate in the coming years. Sela is a leading company in integration and cloud management with excellent technical abilities, unique technological knowledge and outstanding human capital, which together enable it to offer the most comprehensive and professional services. We intend to accelerate Sela’s growth by broadening the cloud services package and expanding into additional countries globally, leveraging the reputation and knowledge the company has garnered, alongside close relationships with the largest cloud providers".
Sela cofounders David Bassa and Caro Segal added, "We are proud that Fortissimo chose to invest in us. They identified the professionalism, loyalty and motivation of Sela’s managers and employees as one of the company’s substantial strengths, an expression of extreme belief in the company’s abilities and possibilities to progress to new horizons. This acquisition is intended to enable Sela, which we’ve been building for 31 years, to rapidly forge ahead, both in training skilled employees in the fields of DevOps and cloud, and in providing advanced cloud services all over the world, while preserving the company’s spirit and core principles."