OMNIQ Corp. completed the sale of a portion of its U.S.-based legacy assets to Summit Junction Holdings LLC, a private company. This transaction marks a major milestone in OMNIQ’s strategic transformation. The divestiture eliminates approximately 63% of the Company’s total pre-sale debt, significantly reinforcing OMNIQ’s balance sheet.
The sale also removes labor costs from OMNIQ’s payroll, reducing personnel-related expenses and streamlining operations. On a pro forma basis, the remaining business units, Smart Automation and AI-driven products, generated approximately $38.5 million of the company’s total 2024 consolidated revenue. This move allows OMNIQ to focus resources on its core high-growth divisions.
OMNIQ expects this transaction to generate an estimated $35 million gain in fiscal year 2025 due to the elimination of approximately $45 million in debt. CEO Shai Lustgarten stated that this transaction allows the company to fully focus on its Smart Automation and AI business units. This strengthens its financial position and resolves long-standing balance sheet burdens and operational challenges.
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