Has anyone posted this?
ISRAEL BUSINESS BRIEFS -- NEWS FROM THE ISRAEL ECONOMIC MISSION
NEW YORK--(BUSINESS WIRE)--Dec. 18,
1997--Shamrock will invest $19.5 million in Israel's
Mashov computers, and will have options to eventually
invest up to 50% in the company.
The agreement calls for Shamrock to make an initial
investment of $3 million, with a series of options to
purchase additional shares through Sept. 30, 1998.
Deutsche Telekom is buying a 21% stake in VocalTec
Communications, the company that launched and still
leads the Internet telephony industry, in a private
placement with an overall investment of $48.3 million. In
addition, Deutsche Telekom will buy $33 million in
VocalTec products by the end of 1999.
VocalTec will back an AT&T start-up that will allow
people using traditional telephones to be connected via
the Internet. The start-up company, ITXC Corp., is
primarily backed by AT&T.
German multinational Siemens and Nice Systems have
signed a global distribution agreement. Nice Systems
announced that Siemens' communications division will
distribute Nice's computer telephony integrated
products. Shares of Nice Systems rose on Wall Street.
In other Siemens news, Siemens and a Canadian firm,
Waxton, have purchased RADNet, an Israeli high tech
company, for $75 million. RADNet has developed a
new ATM technology called the ATMux-2000.
Rockwell Semiconductor announced an agreement with
Emultek to incorporate Emultek's automatic code
generation technology into its wireless products.
Rockwell will also sub-license and market Emultek's
Rapid PLUS to its wireless customers.
The Government of Israel has agreed to sell its 63.5%
controlling stake in Bank Leumi in 1998. In addition, the
Government will sell its 51.5% holding in Israel Discount
Bank no later than 1999, as well as its remaining shares
in Bank HaPoalim (12.3%), United Mizrahi Bank (46%)
and Union Bank (23%).
CONTACT: The Israel Economic Mission, New York
Beth Belkin, 212/499-5628
15:02 EST DECEMBER 18, 1997
BW1328 DEC 18,1997 12:01 PACIFIC 15:01
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