Tel Aviv Stock Exchange-traded C. Mer has completed the takeover of TMCS, a division formerly owned by

ECI Telecom

(Nasdaq:ECIL).

The deal's mediator, the First Israel Mezzanine Investors fund, has an option to acquire 20% of TMCS.

TMCS develops cable television systems solutions that are complementary to the business activity of the C. Mer group. C. Mer builds wireless communication infrastructure in Israel and abroad. controlled by chairman Chaim Mer, the company is traded at a company value of about $61 million.