ISRAEL TECH M&A NEWS
DAVIDI GILO’S BID MEETS ANONYMOUS COUNTER OFFER
Davidi Gilo’s attempt to delist Zen Research (LSE: ZEN) has met with unexpected opposition. Gilo, who owns 26% of Zen Research, recently submitted an offer to purchase at 10 pence per share, reflecting a value of only $26 million for a company that has $60 million in cash. However, an anonymous investor has put in a bid at a price topping Gilo's. Following the announcement, Zen Research's share price zoomed from 10.25 pence to 12 pence.
www.zenresearch.com
SFK ACQUIRING FRENCH DIGITAL PRINTING FIRM XEIKON
Shrem-Fudim-Kelner group member Koonras Technologies is acquiring 80% of French digital printing firm Xeikon for $32 million. Xeikon's Israel representative will buy the remaining shares.
www.sfk.co.il
COMVIEW BOUGHT OUT BY VTRON
Flat panel display manufacturer VTron has acquired ComView Visual Systems. ComView, a supplier of optimal display solutions using digital projection technology, had received $15 million in financing from STI Ventures, Jerusalem Global Ventures, Genesis Partners, Comsor, and SIH.
www.comview-vs.com
CELLTREX AND UCNGO MULLING MERGER
Celltrex and UCnGO are reportedly considering a merger. Celltrex, which was founded Erez Halachmi and Eran Fuchs, develops a platform for mobile and Internet service providers. UcnGo, which was established in September 2000 by Ofer Bar-Or and Tsvi Lev, is a provider of rich media application platforms for wireless devices. Pitango seeded UcnGo, while Concord Ventures, Platinum Fund, and Pitango back Celltrex.
www.celltrex.com
www.ucngo.com
FORMULA VISION ACQUIRES 12% OF INTERSYSTEMS
Formula Vision has acquired 12% of Intersystems from FIMI and Bank Discount for $3.4 million. Formula Vision already owns 80% of the company, a developer of information management systems and intelligent display monitors for airports.
www.intersystemsww.com
ISRAEL TECH M&A NEWS CONTINUED…
ISRAEL CORP. SUBSIDIARY BUYS INTO EUROPEAN COMMUNICATIONS COMPANY
Israel Corporation subsidiary Kol 1 is acquiring 33% of pan-European fiber-optic network operator PSINet Europe. Kol 1 will pay $9.5 million for 33% of the shares in PSINet Europe. $640 million has been invested in the PSINet Europe to date. PSINet Europe has annual revenues of $125 million.
www.israelcorp.com
www.psi.net
BEYONDGUIDE ACQUIRES WEBTRAC
Webtrac, a developer of value-added services for cellular network operators, has been acquired by Bertelsmann affiliate BeyondGuide, a provider of on-demand personal audio guides for mobile phone users. Webtrac, which was founded in 2000 by Moshe Becker, previously raised $1.5 million from Advantech Investments and businessman Assaf Mor.
www.webtrac.net
www.beyondguide.com
TRADEFFECT ACQUIRED BY OPEN RATINGS
Tradeffect has been acquired by Open Ratings, a developer of predictive performance management solutions for enterprises. Tradeffect provides meta-exchange software solutions that enhance eTrading collaboration by empowering buyers and sellers to optimally search, match, and negotiate across multiple eMarketplaces. Financial terms of the deal were not disclosed. Open Ratings’ investors include Ampersand Ventures, Atlas Venture and Dun & Bradstreet. Tradeffect received backing from eXseed.
www.tradeffect.com
www.openratings.com