Telsys Ltd. (TASE:TLSY) agreed to acquire remaining 28.07% stake in Variscite Ltd. from Arledan Investments Ltd. for approximately ILS 600 million on January 16, 2024. Telsys will issue 2,286,302 shares to Arledan, which will constitute approximately 25.26% of the ordinary share capital. Following the transaction, Telsys will hold 100% stake in Variscite.

The transaction is subject to a number of additional conditional conditions. As of March 7, 2024, at the Telsys' general meeting of the shareholders approved the transaction.