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Related Parties
 12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
RELATED PARTIES

NOTE 21:- RELATED PARTIES:


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:


  1. iDnext’s monthly fee increased from NIS 33,000 ($9,898) to NIS 53,000 ($15,896) and a bonus of 15% from the net profit of a certain product line, effective from January 1, 2018.

  2. Three employees of BOS-Dimex transferred to be employed by iDnext for a monthly consideration of NIS 35,000 ($10,497).

  3. 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, 
   2020   2019   2018 
             
Monthly fees  $-    49   $183 
Bonus   -    10    49 
Payments for employees   -    33    39 
                
Total  $-    92   $271