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Related Parties
 12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
RELATED PARTIES
NOTE 18:-RELATED PARTIES

 

a.Agreements with iDnext:

 

On January 1, 2016 the Company, through its wholly owned subsidiary BOS-Dimex, consummated the acquisition of the business operations of iDnext Ltd. ("iDnext") and its subsidiary Next-Line Ltd. ("Next-Line"). iDnext is controlled by Mr. Moti Harel, who was a member of the Company's Board of Directors until December 12, 2017.

 

Pursuant to a Management Services Agreement entered into as part of the acquisition agreement, iDnext was paid a monthly fee of NIS 33,000 (approximately $8.5) through December 31, 2017. The Management Services Agreement expired on December 31, 2017. On June 2018 a new agreement was signed with the following terms:

 

i.iDnext monthly fee of NIS increased from 33,000 to 53,000 and bonus of 15% from the net profit of certain product line, effective from January 1, 2018.

 

ii.Three employees of BOS Dimex turned to be employed by iDnext for a monthly consideration of 35,000 NIS.

 

iii.Mr. Harel was appointed as a director to BOS-Dimex's Board of Directors in June 2018.

 

On February 10, 2019 the Company terminated the agreement with iDnext.

 

Expenses incurred according to the agreement with iDnext are as follows:

 

  

Year ended December 31,

 
   2018   2017   2016 
             
Monthly fees  $183   $125   $104 
Bonus  $49   $-   $- 
Payments for employees  $39   $-   $- 
                
Total  $271   $125   $104