BMFM, good info on Lipman seems very skimpy, none of the usual sites have anything worth mentioning. If you have nothing better to do, here are excerpts from some articles from the Jerusalem Post Internet Edition about Lipman:
Article 1:
<<Lipman Electronic Engineering Ltd. fell 3.87% to 134.20. The company, which makes credit-card terminals, cash registers, and lottery-ticket programs, filed with the US Securities and Exchange Commission to sell 4 million shares and raise about $102 million>>
jpost.com
Article 2:
<<With Lipman Electronic Engineering Ltd. To Transfer Transaction Transmission Business For 16% Share In Lipman
PETAH TIKVA, ISRAEL, June 16th, 1999, ECI Telecom Ltd. (NASDAQ/NM symbol: ECILF) announced today the signing of a Memorandum of Understanding (MOU) with Israel-based Lipman Electronic Engineering Ltd.("Lipman"), to consolidate the transaction activities of the two companies.
Under the terms of the MOU, ECI Telecom will receive 16% of Lipman shares, in exchange for ECI Telecom's transaction transmission business, located primarily in Calabasas, California, USA. The MOU includes an option for ECI Telecom to purchase up to 8.9% additional shares from Lipman upon execution of a definitive agreement by the Companies, targeted 30 days from the date of this release.
"The consolidation of ECI Telecom's transaction transmission activities with Lipman's resources will give additional focus to this market segment, which is not the main line of our business", said Mr. David Rubner, ECI Telecom's President and CEO.
Mr. Aharon Lipman, President of Lipman commented: "This agreement presents Lipman with an opportunity to offer customers a more complete and comprehensive solution in the transaction area, and widens our global support channels around the world."
According to the terms of the MOU, ECI Telecom will have 2 seats out of a total of 8 seats on Lipman's Board of Directors.
The companies will agree on ways and means of allowing Lipman to have use of ECI Telecom's worldwide offices and facilities in order to facilitate Lipman's marketing of its products.
The agreement is contingent on completion of due diligence by both parties and the receipt of approvals from relevant authorities.
About Lipman Electronic Engineering Ltd:
Lipman Electronic Engineering Ltd. is a high technology publicly-held company, with its shares traded on the Tel-Aviv Stock Exchange (TASE). Lipman focuses its main business activities in two areas: electronic payment systems and solutions at the point-of-sale (POS), and innovative and highly-technological products outside of the electronic payment/commerce line. Lipman is a leading global provider of advanced wireless and tel-line POS terminals, cash registers, thermal and impact printers, PIN pads, smart-card readers, credit/debit/smart-chip card controllers for integration into vending machine, commercial washer/dryer payment systems or other card-type payment applications, including "electronic purse". Among Lipman's innovative developments is the Quicktionary - a hand-held scanner/dictionary, now sold and further developed by its subsidiary - Wizcom Technologies Ltd. Lipman's corporate headquarters are based in Israel with subsidiaries and local offices in the USA, CIS, Turkey, Spain and China. Additional information: lipman.co.il >>
ecitele.com
Article 3:
<<Lipman expands $40m. contract with Tasq
By Sharon Berger
JERUSALEM (July 14) - Lipman Electronic Engineering said yesterday that its American subsidiary Lipman USA had expanded its December agreement with Tasq Technology to provide 136,000 Nurit terminals by October 2002 for an estimated value of $40 million.
The original agreement which was valued at $33m. called for supplying a minimum of 96,000 Nurit Systems' terminals within two years.
Tasq, which has been working with Lipman for over two years, is a point-of-sale (POS) distributor and bank service solution company providing Nurit products in the US. In February this year Lipman USA, which was founded in 1993, signed a $15m. agreement to give Tasq Technology exclusive distribution rights to Nurit.
The deal with Tasq follows on an agreement earlier this month with Brazilian company Dataregis to sell 10,000 Nurit terminals at a value of $4.7m. over a period of 16 months. In June, Lipman also signed a $20m., four-year agreement to develop and supply credit terminals with ERN, a Maryland-based electronic card processing company.
Rosh Ha'ayin-based-Lipman, which was founded in 1974, specializes in electronic payment systems and solutions. The company's main product line is called Nurit and includes dozens of electronic payment lines using advanced wireless and telephone line POS terminals, cash registers, thermal and impact printers, PIN pads, smart-card readers, credit/debit/smart-chip card controllers for use with vending machines, commercial washer/dryer payment systems and other card-type payment applications. Some 60 percent of Lipman's sales are to the US, and it has branches in the US, Russia, China, Turkey, and Spain.
The 200-employee company, which is traded on the Tel Aviv Stock Exchange (TASE), planned a $103m. listing on Nasdaq in April 2000 which was postponed due to market conditions. It followed on a cancellation last year of a planned $50m. IPO on Germany's Neuer Markt. The largest amount of shares, over 25%, are held by the Mitvach Shamir Holdings Ltd.>>
jpost.com
Article 4:
<<Lipman wins $20m. US contract
By Sharon Berger
JERUSALEM (June 8) - Lipman Electronic Engineering has signed a $20 million, four-year agreement to develop and supply credit terminals with ERN, a Maryland based electronic credit card processing company.
The company's all-in-one terminals will be able to process credit cards, checks, and debit cards. ERN will supply the check processing and verification system. The terminals are aimed at the US market, which currently accounts for 60 percent of sales for Lipman.
Lipman will develop two models; the first to be ready by the third quarter of 2000, and the second by 2001. ERN also received an option to increase the order by an additional $48m.
The Rosh Ha'ayin based company, which is traded on the Tel Aviv Stock Exchange, is planning to list on Nasdaq once market conditions improve, according to president Isaac Angel. A planned $103m. offering for the end of April was postponed.
Last year the 200-employee company, which is partly owned by ECI Telecom, canceled a $50m. IPO on Germany's Neuer Markt.
Lipman's revenue for the first quarter was NIS 57.2m. compared to NIS 28.8m. in 1999. Earnings were NIS 13.8m. down from NIS 36.55m. a year earlier.
In addition to branches in the US, Lipman also has branches in Russia, China, Turkey, and Spain.>>
jpost.com
4-Bob |
