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Technology Stocks : Jacada Ltd (JCDA) -- Ignore unavailable to you. Want to Upgrade?

To: Amots who wrote (62)	10/24/1999 10:30:00 AM
From: techstocker	Read Replies (1) \| Respond to of 401

18, 1999 Sun-Thu at 18:00 (GMT+2) High Tech News Jacada Raises $50 Mln at $186 Mln Value By Eliav Alalof Just twenty four hours before Wall Street started to slide, Jacada managed to join the expanding club of Israeli companies traded on US markets. The company, located in the Herzliya Pituah industrial zone, raised $49.5 million on Thursday at a value of $186 million. The issue price of $11 per share was in the middle of the projected range. The IPO was led by US investment bank Lehman Brothers, with Oppenheimer and SG Cowen as co-managers. On Friday, the first day of trading in the share, it closed unchanged, on a volume of eighth million shares. The company?s shareholders include Gidon Hollander, joint founder and general manager, who and his brother Yossi Hollander, formerly one of the owners of New Dimension, sold to US software house BMC. The company was founded in 1990, and was formerly known as CST. It has developed a software system that upgrades organizational computer systems (mainframe or AS 400) in large corporations. Such systems have many terminals connected to a central computer. This configuration has several limitations, among other things the obsolete terminals, usually with green and black screens, and the inability to access the Internet. Jacada?s software makes it possible to upgrade the terminals to color screens, and facilitates Internet access. It represents a quick, cheap, low risk alternative to installing a new computer system. Jacada has demonstrated impressive sales growth. It sells software to Mitsubishi, Boeing, Toyota, Lockheed Martin, among others. In the first half of 1999, its sales totaled $6.3 million, compared with $4 million in the corresponding period in 1998. Its 1998b revenue was $9.5 million, compared with $5.6 million in 1997. Jacada made a net loss of $2.9 million in 1998, but is expected to end 1999 on a small profit. Published by Israel's Business Arena on 17 October, 1999