Matrix IT buys Laor Energy to expand defense offering

Information technology services company Matrix IT (TASE: MTRX) is buying control of Laor Energy as it looks to the defense market. Matrix will pay NIS 73 million for 80% of the company in a deal that also includes mutual put/call options on the remainder of the shares. Laor Energy, which integrates power systems and electro-mechanical components, is located in the Tsipori industrial zone and employs 65 people. The deal contains arrangements for the continued employment of key people in the company.

Matrix, Magic merger boosts both companies stocks

Matrix CEO Gutman among highest paid execs at TASE cos

Laor Energy had revenue of NIS 98.1 million in 2025, 13% more than in 2024. Its operating profit grew by 71.4% to NIS 15.5 million, and it posted a net profit of NIS 11.9 million, 46% higher than in the previous year.

Matrix says that the acquisition will deepen its activity in the defense market, which is one of the company’s main growth engines, and that it will be able to offer end-to-end solutions from design to implementation, service, and maintenance. “The company believes that Laor’s activity should enable it to expand its value proposition to existing and new customers in Israel and overseas, as it gradually integrates Laor’s activity into the Matrix group,” the company said in its notice to the Tel Aviv Stock Exchange. The deal is subject to approval by the Competition Authority, and will be financed from Matrix’s own resources.

Laor Energy was founded in 1993 by its CEO Uri Caspi, and is owned in equal shares by him and by German company Benning.

Matrix CEO Moti Gutman said, “The acquisition of Laor Energy represents a further strategic move in building Matrix’s standing as one of the leading technological groups in defense. The company brings with it unique capabilities in electro-mechanical systems and in the critical sphere of energy that naturally complement the software, cyber, infrastructure and integration capabilities of Matrix.” Gutman added that Matrix’s defense activity already amounted to NIS 1 billion annually, and that this activity would expand with the acquisition.

Earlier this year, Matrix completed the merger with Magic Software Enterprises. Its current market cap is NIS 7.9 billion. Its share price has fallen 38% since the beginning of the year, impacted by negative sentiment towards software and IT stocks because of the development of advanced AI models, but it has risen by 15% in the past few sessions.

Published by Globes, Israel business news – en.globes.co.il – on July 9, 2026.

Source link