2006-12-19
BusinessWire:

Check Point to Acquire NFR Security

Expands Intrusion Prevention Capabilities to Fortify Enterprise Networks.

Award-Winning Intrusion Prevention Technologies to Augment Unified Security Architecture and Offer the Highest Level of Protection Against Internet Attacks.
Check Point® Software Technologies Ltd. (NASDAQ:CHKP), the worldwide leader in securing the Internet, today announced the company has signed a definitive agreement to acquire NFR Security, a leader in real-time threat prevention.
With the acquisition of NFR, Check Point will enhance its technology leadership and raise the security bar in defending enterprise networks against today’s most dynamic threats. Check Point’s SmartDefense and NFR’s Hybrid Detection Engine (HDE) will offer customers precise, real-time attack prevention by combining pre-emptive type-based protection (SmartDefense) with the highly granular and accurate attack detection provided by the HDE.
Total consideration of the transaction is approximately $20 million including acquisition related expenses. NFR, established in 1996, is based in Rockville, MD and has 22 employees. The acquisition has received U.S. regulatory approvals and is expected to close before the end of the year.

This acquisition comes one month after Check Point acquired Swedish Protect Data, the parent company of Pointsec for $625 million. Pointsec focuses on data encryption on mobile devices, including both laptops and wireless devices. It acquired the File Crypto product from Swedish anti-virus company F-Secure in 2003, and it has worked with F-Secure to apply its anti-malware products on these mobile devices. Pointsec has about 300 staff.
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2006-12-11
MBO – Maximize Business Opportunities:

MBO to Represent InventCon Europe in Israel

MBO and InventCon to open doors in the telecommunications sector in Europe for Israeli Companies.

MBO – Maximize Business Opportunities is pleased to announce that it has been appointed as representative of InventCon Europe in Israel. Since 2003 InventCon Europe GmbH has established itself as the leading practice oriented service provider for telecommunication companies. InventCon Europe includes over 40 senior executives. The service portfolio addresses the needs of existing providers as well as, of start-up companies. InventCon puts special emphasis on the introduction of companies, products and services to the European market.
Based in Frankfurt / Main, Germany, InventCon is active all over Europe, as well as in Commonwealth countries (UK, Canada, Australia, India, …) mainly in the telecommunications and data communications arena.
InventCon Europe today comprises an accumulated experience in excess of 600 man-years in top-level management of internationally operating industry- and service providers in the telecommunications sector. Owing to their many years of experience in leading positions and extensive knowledge in technical and economic requirements; and based on their long term involvement in this market, InventCon has excellent contacts in the industry.
The strategic and operative services of InventCon include: Consulting, Market Analysis, Network Optimization, Product Development, Sales & Marketing, Training and Custom Tailored Services.

Mr. Helmut Kohl, Managing Director of InventCon Europe GmbH said: “With all the innovative technology in the field of telecommunications, data communications and IP related technologies originating in Israel, we have been looking for a while to get direct access to this source of high-tech solutions. We are pleased to welcome MBO – Maximize Business Opportunities to our roster of partners to get direct access to the Israeli market and suppliers.”

Michel Bodenheimer from MBO – Maximize Business Opportunities added: "We are pleased to have been selected by InventCon Europe as their Israeli representative. With InventCon, we are now able to open doors to the markets in Europe and beyond, to Israeli companies which have excellent technology and products but often lack the marketing clout and connections to penetrate the most promising markets. With InventCon Europe the Israeli telecommunications vendors now gain access to a broad base of customers, clients and partners.”

About: MBO – Maximize Business Opportunities
MBO - Maximize Business Opportunities is a network of senior business professionals whose goal is to initiate and develop business relationships among a wide range of technology providers and relevant customers and partners.
Among the services MBO offers are: Business Development, Marketing Services, Sales Assistance, Translation Services, Start-up Assistance, Technology Scouting, Identification of Investment Opportunities, Custom Tailored Services and more. MBO – Maximize Business Opportunities focuses on technology transfer with Israel, Germany, Austria, Switzerland, UK and USA.

About: InventCon Europe
In 2003 InventCon Europe GmbH was founded as practice oriented service provider for telecommunication companies. The services portfolio addresses the needs of existing providers as well as, of start-up companies. We put special emphasis on the introduction of companies, products and services to the European market.
InventCon Europe GmbH is based in Frankfurt / Main, Germany and is active all over Europe, mainly in the telecommunications and data communications arena. Based on their long term involvement in this market our partners have excellent contacts in this industry.
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2006-11-28
Associated Press:

NeuStar acquires Followap for USD 139 million

Instant-messaging provider from Haifa acquired by American provider of clearinghouse services to communications industry.

NeuStar Inc ., which provides clearinghouse services to the communications industry, said Monday it acquired Followap Inc. , a UK-based instant-messaging provider from Haifa, Israel for about USD 139 million in cash.
NeuStar said it expects Followap to contribute more than USD 25 million to overall revenue in 2007, and for that to more than double in 2008. The company also said it does not expect the acquisition to affect earnings for 2006.
The deal expands NeuStar's platform for growth in mobile markets in the US and abroad, the company said.
Followap also provides network operators with mobile Internet access services. The acquired company will form the core of NeuStar's Next Generation Messaging group.
"Strong demand is emerging worldwide for Instant Messaging, and leading mobile network operators in Europe already depend on Followap's products to deliver IM," said Jeff Ganek, NeuStar's chairman and chief executive officer.
"By enabling IM, NeuStar will build on Followap's strengths to deliver essential infrastructure services in Europe and Asia."
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2006-11-19
NVCA:

Israel, second in immigrant founded venture backed US public companies

One out of every four US public companies that where venture backed, founded by immigrants.

In a recently published study, the National Venture Capital Association (NVCA) found that over that last 15 years (1990 – 2005), immigrants have started 25% of  US public companies that where venture backed.
Most of the immigrant founded venture backed companies are in the sectors of high-technology manufacturing, information technology (IT) and life sciences.
Among the largest US venture backed companies started by immigrants, the study mentions Intel, Solectron, Sanmina-SCI, Sun Microsystems, eBay, Yahoo! and Google.
Listing the countries of birth for immigrant-founded venture-backed US public companies, Israel ranks second with 17 companies. Israel is preceded by India with an impressive 32 companies and followed by Taiwan (16), Canada (7), France (7), UK (7), Germany (6) and others.
Among the US listed companies founded by Israeli born founders are Mercury Interactive, Zoran, Comverse, Checkpoint, NetManage, eASIC and more.
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2006-11-16
Globes:

Allot IPO exceeds expectations

Allot Communications raised $78 million on Nasdaq. The issue price gives the company a market cap of $293 million.

IP service optimization solutions developer Allot Communications Ltd. successfully held the pricing stage of its IPO on Nasdaq yesterday. It is the second Israeli high-tech company to go public on Wall Street within a month. The company raised $78 million, at a share price above the target range.
Last month, RR Satellite Communications Ltd. (Nasdaq:RRST) held its IPO.
Allot issued 6.5 million shares, 27% of its share capital, at $12 per share. The target range for the IPO was $9-11. The issue price gives Allot a company value of $293 million, above the projected value of $188-230 million.
Allot plans to use the proceeds of the offering for regular operations and R&D.
The company will be traded under the ticker “ALLT”.
The IPO marks a successful exit for five Israeli venture capital funds that invested in Allot: Gemini Israel Funds, Genesis Partners, Partech International, Jerusalem Venture Partners (JVP), and Tamir Fishman Venture Capital (TASE: TFVC).
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2006-11-09
Globes:

AOL to buy data-filtering co Relegence for $55-65m

This is AOL's second acquisition in Israel. It previously bought Mirabilis in 1998.

AOL LLC. today announced that it has acquired financial news and information search technology company, The Relegence Corporation. The value of the deal remains undisclosed, however it was reported to be $55-65 million. AOL's last acquisition in Israel was its 1998 acquisition of Mirabilis, developer of the ICQ messaging software.
Relegance was founded in 1999 and operated until 2001 under the name eNow. Using proprietary technology, Relegence simultaneously monitors, indexes, and filters tens of thousands of live content streams, mostly internet and television. The company was considered very promising at its outset and was initially invested in by 1980's junk bond king Michael Milken, through Entertainment Media Ventures fund.
The company's customers include 70 large investment institutions around the world including Merrill-Lynch, Fidelity and Credit-Suisse. Relegence also provides information to large financial newspapers such as Bloomberg, and Reuters. The company does not have any Israeli customers.
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2006-11-09
Globes:

Network Appliance buys start-up Topio for $160m

Topio provides enterprise-class software for data replication and rapid recovery.

Network Appliance, Inc. (NASDAQ100: NTAP) today announced that it has entered into a definitive agreement to acquire Israeli start-up Topio, for approximately $160 million in an all-cash transaction. This is NetApps' first acquisition in Israel.
Since inception, Topio has raised $20 million from investors including Sequoia Capital, Star Ventures and Sigma Partners.
The acquisition is expected to close in December 2006, subject to customary closing conditions. Topio will be a new business unit within NetApp, and its research and development team will continue to operate in Haifa, Israel. Topio is committed to maintaining and furthering its deep relationships with global enterprise customers. Topio was in the past a NetApp strategic partner. The company was founded in 2001 by CEO Yoram Novick and has so far succeeded in selling its products to 50 medium and large customers.
Topio provides enterprise-class software for data replication and rapid recovery.
Network Appliance provides storage solutions for data rich organizations. The company provides thousands of worldwide network linked servers for data storage and management solutions. The company's solutions enable data center operation and uninterrupted data access.
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2006-11-08
MBO – Maximize Business Opportunities:

Israel Gateway IV served as networking platform

The Israel Gateway Exhibition & Seminars has established itself as one of the most exciting international trade events.

The fourth Israel Gateway Exhibition & Seminars Conference has established itself as one of the most exciting international trade events in Israel. This exhibition and seminars is organized by the Globus Gate Group which is headed by Ilana and Oded Kapitolnik. Through their tired less and consistent efforts they managed to ensure the cooperation of all the leading trade organizations in Israel, including the Israel  Ministry of Industry, Trade and Labor, the Israel Ministry of Foreign Affairs, the Israel Export & International Cooperation Institute, Manufacturers’ Association of Israel and the Federation of Israeli Chambers of Commerce.
The event included an exhibition and a number of seminars to allow for bilateral exchanges in order to expand trade, create new joint ventures and enhance economic relationships.
Israel Gateway IV provided an appropriate environment for Embassies, Commercial Attaches and business delegations from abroad to present matters of economic and commercial importance to their respective countries. Most importantly, Israel Gateway IV enabled businesspersons from abroad to meet with and get to know the right people from Israel's business community.
Michel Bodenheimer from MBO – Maximize Business Opportunities used the Israel Gateway IV event to meet with international business people, to network with fellow business persons and to look for new opportunities. In fact, a number of projects have already been identified for additional discussions and appropriate meetings are being scheduled to follow up on, and advance those specific opportunities.
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2006-10-25
Jerusalem Post:

New agreement makes Swiss-Israel skies open wide

Swiss International Air Lines soon will operate 17 weekly flights on the Tel Aviv-Zurich route under a new agreement with local aviation authorities.

Israeli and Swiss civil aviation authorities signed an agreement Tuesday to increase the number of flights operating between the two countries.
The agreement raises the number of flights each country’s airlines can operate to 17 weekly flights from the 11 allowed on the current schedule and comes even in the face of the current lull in Israeli tourism.
El Al Israel Airlines and Swiss International Air Lines are the only carriers with scheduled status on the route and, therefore, exclusively will gain the option to increase their flights.
“The agreement is a vote of confidence in the route – that Tel Aviv-Zurich has been successful enough to warrant the added flights,” said Avner Gordon, the Swiss country manager Israel.
“At the moment, there is a decrease in demand from tourists so we will now evaluate the possibilities that it opens. What we have done is open the skies a little more.”
Currently, El Al and Swiss each operate nine flights a week to Zurich and two to Geneva of which approximately 80 percent are on a code-share basis.
“This is another stage in the expanding operations of foreign airlines in Israel,” said Gidon Siterman, director-general of the transportation ministry. “Increasing the number of flights will pave the way to increasing the number of tourists passing between the two countries.”
The Ministry said approximately 400,000 tourists travel the route annually.
The parties did not say when the agreement will take effect.
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2006-10-23
Central Bureau of Statistics:

Exports up 13.1% in Q3, despite war

The Central Bureau of Statistics of the State of Israel trend data point to a rise of export of goods (excluding diamonds) of 13.1% and imports of goods of 15.8%, at an annual rate, during July-September 2006. This compares to a rise of 24.4% to the previous quarter.
It’s worthwhile mentioning that despite the “second Lebanon war” Israel’s exports continued to rise in the quarter ending last September. In September 2006, manufacturing exports (excluding diamonds) constituted 76.0% of all export of goods. Export of diamonds constituted 21.9%, and the rest was agricultural exports.
Trend data of exports by high technology industries point to a rise of 25.3%, at an annual rate, in July-September 2006.
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2006-10-16
The Marker:

Verifone to invest up to $300m in Israel after merging with Lipman

Verifone means to invest up to $300 million in Israel pursuant to acquiring Lipman Electronic Engineering (TASE, Nasdaq: LPMA), say sources in the know of the American company's investment program.
The merger with Lipman, which makes electronic payment systems, is to close next month. The additional investment would be slated to expand the merged Verifone-Lipman R&D and production, say the sources.
On Tuesday, representatives of Verifone and Lipman will be meeting with Prime Minister Ehud Olmert to discuss the investment plan, which could create about 1,000 jobs in Israel.
Lipman and Verifone, which plan to make their investment in the Jerusalem area, could be eligible for a 15-year tax exemption, as a merged entity owned by a foreign body.
Unlike many companies that acquire local firms only to move most of their operations abroad, Verifone means to turn Israel into its R&D hub and to carry out production locally as well, based on the qualities of Israeli R&D.
In the U.S., Verifone commands about 20% of the market for smart card terminals.
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Agilent opens R&D center in Israel

The company is hiring a team for wireless communications measuring equipment.

Another technology giant is opening a development center in Israel. Last Thursday Agilent Technologies Inc. (NYSE: A) Electronic Measurements Group president Patrick J. Byrne made a 24-hour visit to Israel. The centerpiece of the visit was to dedicate the company’s new R&D center at the company’s offices in Petah Tikva. The center’s first employee began working on Thursday.
Agilent has joined the long list of high-tech giants with R&D centers in Israel. Agilent’s center is important because electronic measuring equipment is barely known in Israel. Also, in contrast to other international companies, Agilent has not acquired a local start-up as the foundation for its R&D center, but has set it up from scratch.
Agilent was founded in late 1999 as a spin off of Hewlett Packard Company Ltd. (NYSE:HPQ), which began operating in the equipment measuring sector in the 1930s when its founders William Hewlett and David Packard began developing voice measuring equipment in a Palo Alto garage. Agilent is a leader in the field, posting $5.6 billion in sales in 2005, and has 21,000 employees. Byrne is responsible for the company’s core business, which accounted for $4.1 billion in sales last year, 80% of total sales. The company also develops biological and chemical measuring equipment.
Bryne said Agilent opened an Israeli R&D center because of developments in the communications industry and because of Israel’s centrality in the wireless equipment industry. “The wireless communications industry is undergoing convergence to IP. Technology such as WiMAX is based on this convergence, which is the future of mobility. There are many semiconductor companies in Israel working on solutions that will be the future of the mobile world. I see the convergence of market forces in Israel as something that enables us to be in the forefront of the semiconductor industry, solutions that will later go to equipment companies.”
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2006-10-04
Globes:

Xerox buys XMPie for $54m

This is Xerox’s first acquisition in Israel. 

Digital printer giant Xerox Corp. (NYSE:XRX) is making its first acquisition in Israel. Xerox today announced that it was acquiring Israeli start-up XMPie Inc. for $54 million. Xerox is buying the company after four years of collaboration.
XMPie has raised $15 million, mostly from Jerusalem Venture Partners (JVP), Scailex Corp. ltd. (Nasdaq: SCIX; TASE: SCIX) (formerly Scitex), and last year from Plenus Venture Lending Fund, a subsidiary of the Dovrat Group.
Based in New York, XMPie was founded in 2000 by former Scailex managers as a spin-off of the company. The co-founders were XMPie chairman and CTO Dr. Jacob Aizikowitz, VP print technology Israel Roth, and executive VP R&D Reuven J. Sherwin. The company’s solution is mainly designed for digital printing, which has received an immense boost in recent years thanks to developments in software. XMPie’s software is mostly relevant for marketing activity, making it possible to prepare documents with the addressee’s name embossed. The company cites a study by industry research firm InfoTrends, which predicts that the printed advertising market in the US will triple to $16.6 billion by 2009.
Xerox plans for XMPie to function as its first R&D center in Israel, focusing on digital printing. XMPie will operate as an independent unit, and Xerox has asked Aizikowitz to continue running the company, while CEO Eyal S. Goldwerger is about to leave. Xerox plans to greatly expand its workforce in Israel.
All in all, XMPie has been a successful company. Its 2006 sales were projected at $15 million, and it has been on the verge of profitability in recent quarters.
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2006-09-27
MBO – Maximize Business Opportunities:

KH-Concepts added as new partner of MBO in Germany

MBO – Maximize Business Opportunities is pleased to announce our new partnership with KH-Concepts in Germany.
KH-Concepts has many years of proven experience in a wide area of Networking Solutions (including NGN, Metro Ethernet, Ethernet, IP, VoIP, Triple Play etc.) as well as in Web related technologies (including Web Design, Web Hosting etc.) and in Marketing.

MBO – Maximize Business Opportunities and KH-Concepts will cooperate in identifying new technologies, applications and solutions in their respective markets to broaden the spectrum of services and solutions for their customers.

Karsten Heimers from KH-Concepts commented on the new partnership: "We are pleased to get through MBO – Maximize Business Opportunities a foothold in Israel which is well known for its leadership the high-tech industry in general and in communications related developments in particular."

Michel Bodenheimer from MBO – Maximize Business Opportunities added: "With the addition of KH-Concepts to our partner program, MBO – Maximize Business Opportunities has gained a reliable partner to serve our customer base in Germany, Austria and Switzerland."

About MBO – Maximize Business Opportunities
MBO - Maximize Business Opportunities is a network of senior business professionals whose goal is to initiate and develop business relationships among a wide range of technology providers and relevant customers and partners.
Among the services we offer are: Business Development, Marketing Services, Sales Assistance, Translation Services, Start-up Assistance, Technology Scouting, Identification of Investment Opportunities, Custom Tailored Services and more. MBO – Maximize Business Opportunities focuses on technology transfer with Israel, Germany, Austria, Switzerland, UK and USA.

About KH-Concepts
KH-Concepts offers solutions in PC Service, Networking Solutions, Training, Web Design, Web Hosting and Marketing. The solutions offered by KH-Concepts include outsourced planning, installation and maintenance of networks, as well as related training for customers. KH-Concepts excels in tailoring the offered solutions to customer requirements.
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2006-09-26
The Marker:

Microsoft buys Israeli tech-support startup Gteko

Microsoft Corp., (MSFT) the Redmond, Wash., software giant, is buying the startup Gteko, a Ra'anana, Israel, producer of technical-support solutions.
The deal's estimated value is approximately 100 millions of dollars and will be announced in the next couple of days.
Gteko's customers include Hewlett-Packard Co., (HPQ) Cisco-Linksys (CSCO) and Canon Inc (CAJ).
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2006-09-26
Globes:

Direct Capital buys 9 German properties for NIS 94m

The properties generate NIS 7 million in rent a year, for a return on investment of 7.9%.

Direct Capital Investments Ltd. (TASE:DCI) yesterday bought nine properties in a Hamburg, Germany, industrial park for NIS 94 million. The properties were bought through a fully owned subsidiary registered in Cyprus. Last week, the company sold three German properties.
The nine office buildings, warehouses and distribution centers have 17,000 sq.m. in aggregate space. They are leased for an average period of five years, and generate NIS 7 million in rent a year, for a return on investment of 7.9%.
Direct Capital also has an option to buy two more buildings for NIS 27.7 million. These buildings cover 7,500 sq.m., and generate NIS 2.9 million in rent a year for a return on investment of 7.7%.
Direct Capital will obtain a non-recourse loan to finance the purchase, and is negotiating with a European financial institution to finance this purchase, as well as future deals.
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2006-09-15
MBO - Maximize Business Opportunities:

New website to optimize business opportunities

MBO - Maximize Business Opportunities today launched it's new website.
The new MBO website will serve as a portal for business professionals looking to develop relationships with relevant technology and service partners, as well as to offer an additional source of information.
Potential customers and clients may contact MBO directly through the new MBO website to discuss their specific requirements and to initiate cooperation.
More information at: http://www.mbo.co.il
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2006-09-14
Globes:

Fitch: Israel's fiscal progress dented not reversed

The ratings agency sees Israel's public debt ratio resuming a downward trend if the budget framework is respected.
International ratings company Fitch has issued a report on Israel, commenting on the measures being taken to finance the war in Lebanon. Fitch says that, although progress in reducing Israel's public debt will slow, it will nevertheless continue, provided the fiscal framework endorsed by the cabinet this week is respected.
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2006-09-12
The Marker:

Lucent buying Israeli content management software startup Mobilitec

U.S. telecoms equipment giant Lucent Technologies (NYSE: LU) is buying the Israeli startup Mobilitec, which provides content management software for wireless service providers. The acquisition strengthens Lucent's next-generation platforms that support voice, video, data and multimedia applications, it explained, enabling phone companies to supply a wider range of services for mobile and broadband users.
Lucent did not disclose the value of the deal, but did say that it is not material to its results. It expects to close the acquisition by year-end.
The acquisition brings Lucent applications that improve mobile content management by phone companies. The end result should be personalized "smart", location-aware content.
Specifically, Lucent says it will be integrating the Mobilitec solution, which enhances its IP Multimedia Subsystem (IMS) and Mobility (3G) portfolios, with its application products to enable intelligent, personalized context-aware content delivery and targeted advertising.
This will make it possible for service providers to offer special promotions on their web storefronts that are personalized based on content, profiles, preferences, location and availability, Lucent said.
In addition, these promotions can be sent to friends through buddy lists to support viral marketing.
According to Pyramid Research, the global market for mobile content services is expected to reach $73 billion by 2010. This market estimate includes services and applications such as ring tones, games, information, music, video and graphics but Mobilitec customers include Vodafone, Orange Israel and M1.
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2006-09-11
Globes:

S&P: Lebanon war's effects will be seen in 2007

The rating agency has cut its growth forecast for 2006 to 4%, from a prewar forecast of over 5%.
International rating company Standard & Poor's is the latest agency to lower its 2006 growth forecast for Israel. S&P has lowered its forecast to slightly above 4% from the prewar forecast of more than 5%.
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2006-09-08
World Bank:

Doing business in Israel.

Israel ranked at top for protecting investors and getting credit by World Bank

In the yearly Doing Business report just published by the World Bank, Israel was rated no. 5 and no. 7 for Protecting Investors and for Getting Credit respectively (out of a total of 175 rated economies). The average rating for Israel was place 26.

Following, the complete score table for Israel:

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2006-08-17
MBO – Maximize Business Opportunities:

High quality translations
Translation services offered by MBO to/from English, German and Hebrew

MBO – Maximize Business Opportunities today announced, that in addition to the existing portfolio of business oriented services, MBO will now also offer high quality translation services.
The translation services offered include on-site translation services, as well as written translations. The languages supported initially, include: English, German and Hebrew.
This new service has already been successfully launched with several projects. The translations performed include challenging technical, commercial and legal documents, as well as on-site commercial negotiations.
Some of the translation projects have been executed on extremely short notice, with some of the translated documents delivered within hours.
Additional information on MBO high quality translation services may be obtained by contacting: info@mbo.co.il
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2006-07-30
BusinessWire:

SanDisk to acquire M-Systems

M-Systems to become wholly owned subsidiary of SanDisk

SanDisk(R) Corporation (NASDAQ:SNDK) and msystems(TM) Ltd. (NASDAQ:FLSH) today entered into definitive agreements for SanDisk to acquire msystems in an all stock transaction. This combination joins together two flash memory pioneers with complementary products, customers and channels. Together the combined company will have the people, technology, manufacturing and IP to play a leading role in creating new markets and accelerating the penetration of flash memory into existing storage applications.
"SanDisk and msystems, over the past 18 years, have been leading innovators in the flash storage market. This strategic acquisition will give us the critical mass and complementary products, customers, channels, technology and manufacturing base to take our shared vision to the next level. The NAND flash data storage business is in its early stages and we believe the market opportunity is largely untapped," said Eli Harari, Chairman and CEO of SanDisk. "msystems is a leader in flash memory systems addressing mobile, portable and embedded markets and they have a strong team, significant IP and important OEM customers. SanDisk has a record of creating new market categories, world-class manufacturing capabilities and leading market share in the retail channel. Both companies are noted for their relentless innovation, and this acquisition is intended to further accelerate our pace of innovation. In the near term, this transaction better positions SanDisk to serve the expanding storage needs of handset manufacturers and mobile network operators. In the long term, the combination with msystems will be a catalyst in the development of next generation flash enabled consumer applications. We are extremely excited about joining forces with the msystems team to achieve our shared vision. We are committed to serving msystems' OEM customers after the transaction closes."
"From mDOC to megaSIM(R), from U3(TM) to x4, msystems is creating new markets through innovation," said Dov Moran, President and Chief Executive Officer of msystems. "We are truly proud of our achievements to date. This strategic deal will enable us to continue supporting our OEM customers, to whom we remain fully committed, and strengthen our innovation and product offering with SanDisk's leading edge, low-cost fab capacity. This deal has synergy at its core, encompassing people, technology, products and customers. Based on our shared vision, as well as our teams' history of successful and fruitful cooperation, I am confident we can succeed in achieving the goals we set for ourselves. I also believe that SanDisk's extensive silicon expertise will prove itself as a strong catalyst to productizing our revolutionary x4 technology as well as other future innovations."
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2006-07-28
HP Press Release:

HP to Acquire Mercury Interactive Corp.

HP today announced that it has signed a definitive agreement to purchase Mercury Interactive Corp., a leading IT management software and services company, through a cash tender offer for $52.00 per share, or an enterprise value of approximately $4.5 billion, which is net of existing cash and debt.
Upon closing, the acquisition will establish HP's portfolio of IT management software and services as the clear choice for companies seeking to optimize the value that IT brings to business.
"Today, we are combining two market-leading businesses to create the most powerful management software portfolio in the industry," said Mark Hurd, HP chief executive officer and president. "Together, they will help customers cut their IT costs, speed the delivery of new services and drive profitable growth at HP. We expect this important acquisition to deliver significant value for our shareholders."
Mercury Chief Executive Officer and President Tony Zingale said, "Together, HP and Mercury instantly become the industry's premier provider of business technology optimization (BTO) software. A deal of this magnitude creates significant opportunities for our customers, our shareholders, our people and our partners."
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2006-05-08
BusinessWeek:

Buffett Takes a Cut of Iscar

The Israel-based manufacturer, with estimated revenues of $1.4 billion, enters the limelight thanks to an acquisition by Berkshire Hathaway

Berkshire Hathaway (BRK) chairman, Warren Buffett announced that his company would pay $4 billion for an 80% stake in the privately held Israeli cutting-tools company, its first-ever acquisition outside the U.S. A day later, Iscar Chairman Eitan Wertheimer stood before 24,000 shareholders at the Berkshire Hathaway annual meeting in Omaha, Neb., and declared: "We, our families, all the Iscar employees and their families are proud to join you."
The deal brings together two successful corporate cultures -- both with an emphasis on hard work and value. It also could have a major impact on the Israeli economy. That's because, as a result of the deal, the Wertheimer family is likely to pay about $1 billion in capital gains taxes into the Israeli government's coffers -- an unexpected windfall. With the Israeli budget already running a $2 billion surplus, the government is considering slashing value added tax by one percentage point to 15%.
No wonder the market was happy. Founded in 1952 by Stef Wertheimer to manufacture metal cutting tools, Iscar has in the past decade turned into a major player with subsidiaries in 60 countries and factories in Europe, Asia, and the Americas. The company specializes in precision tools for the automotive, aerospace, and die-and-mold industries. It is located in the Tefen industrial park in the hills of Israel's Galilee, only about 7.5 miles from the border with Lebanon, often a flash point for violence in the volatile region.
In recent years, Wertheimer has turned over the reins to his son Eitan, 53, and focused on using his business success to promote Middle East peace through industrial parks modeled after Tefen and four others he has built in Israel. Wertheimer, 80, believes industry is the key for creating jobs and stability in the region.
So far his attempts at regional peacemaking have met with little success. But the Wertheimer family has already announced that it will put proceeds from the deal toward further promoting the cause of industrial parks and peace. The cash sale of 80% of Iscar makes the Wertheimers Israel's richest family.
Closely guarded books. It's been a long road. The German-born, self-educated Wertheimer, who came to what is now Israel at the age of 10, turned a backyard metalworking business into one of the country's most profitable companies. A third of Iscar Metalworking's 6,000 employees are based at its Tefen headquarters, where most of its research and development and a substantial part of its production take place.
Wertheimer, who will continue to run the company with his team, was just as excited. "Our joining the Buffett family will open up a lot of doors that were closed to us in the past," he told Israeli reporters in Omaha. It will also allow Wertheimer to continue to operate under a veil of secrecy with Iscar Metalworking's trade secrets and financial results deeply buried in Berkshire Hathaway's annual reports.