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RELATED PARTY BALANCES AND TRANSACTIONS
6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
RELATED PARTY BALANCES AND TRANSACTIONS

NOTE 13:-RELATED PARTY BALANCES AND TRANSACTIONS

a.The Company entered into a number of agreements for the purchase of infrastructure, construction and services from C. Mer Industries Ltd. ("C. Mer"), a publicly traded company in Israel (TASE). The Company's controlling shareholder, FIMI Opportunity Funds ("FIMI"), holds approximately 36.6% of C. Mer's share capital and representatives of FIMI serve on C. Mer's board of directors.

b.In December 2015, the Company entered into a memorandum of understanding with Orbit Communication Systems Ltd. ("Orbit"), a publicly traded company (TASE), for development and manufacture of antenna for an aggregate amount of approximately $1,750. The memorandum specifies prices per additional product units ordered in the future by the Company. In August 2017, FIMI acquired approximately 33.4% of Orbit's share capital and representatives of FIMI serve on Orbit's board of directors. As of June 30, 2020, FIMI holds approximately 41.8% of Orbit share capital.

c.Transactions with the related parties:

Six months ended June 30,

2020

 

 

2019

 

Cost of revenues of products

$

58

$

1,276

 

Purchase of Inventory

$

110

$

-

d.Balances with the related parties:

June 30,

2020

 

 

2019

 

Other receivables

$

-

$

17

 

Trade payables

$

257

$

-

 

Accrued expenses

$

725

$

2,022