Blackstone to Buy Priority Software Stake in Biggest Israel Deal

Blackstone Inc. has agreed to buy a majority stake in Israeli enterprise software company Priority Software at an $800 million valuation, marking the largest deal for the alternative asset manager in the country since it opened its offices in Tel Aviv three years ago.

Priority Software’s existing investors, Fortissimo Capital and TA Associates, will maintain stakes in the business, Blackstone said in a statement on Thursday.

Israel has seen a flurry of tech deals in recent months, particularly in cybersecurity, despite its ongoing war with Hamas in Gaza. Earlier this month, buyout firm Permira bought control of Israeli fraud-protection company ...