Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Blank Check IPOs (SPACS) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (402)	6/5/2007 3:25:37 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 3862

The shareholders of Israel Technology Acquisition (stock symbol: ISLT) have approved the acquisition of IXI Mobile. It has taken fifteen months to close this deal. Israel Technology Acquisition Corp. Receives Stockholder Approval of Merger with IXI Mobile Tuesday June 5, 12:38 pm ET REDWOOD CITY, Calif., June 5 /PRNewswire-FirstCall/ -- Israel Technology Acquisition Corp. (OTC Bulletin Board: ISLTU.OB - News, ISLT.OB - News, ISLTW.OB - News) and IXI Mobile, the maker of the Ogo(TM) family of devices and services, announced today that the stockholders of Israel Technology Acquisition Corp. have approved the merger of the two companies at a special meeting of stockholders held today in New York. It is expected that the merger will close shortly thereafter. Upon the closing, ITAC will change its name to IXI Mobile, Inc., and IXI will change its name to IXI Mobile (USA), Inc., which will be a wholly-owned subsidiary of IXI Mobile, Inc. At closing, the shares, warrants and units of Israel Technology Acquisition Corp. will continue trading on the Over-The-Counter Bulletin Board under the symbols OTCBB: ISLTU.OB, ISLT.OB, ISLTW.OB. The Company has applied for listing on the Nasdaq Stock Market and hopes to be listed as soon as possible following the closing. In addition to approving the merger, ITAC stockholders approved certain changes to the Company's certificate of incorporation relating to the transaction, including the name change and an increase in authorized capitalization. The Company also elected seven directors - Gideon Barak, Israel Frieder, Amit Haller, Victor Halpert, Matthew Hills, Yossi Sela and Shlomo Shalev. Israel Frieder, Chairman and Chief Executive Officer of Israel Technology Acquisition Corp., said, "We are extremely pleased to close this transaction after more than a year of hard work and appreciate the support shown by our stockholders throughout the merger process. We believe IXI and its capable team can now focus on growing its business through continued innovation, the addition of carrier partners and end subscribers." Amit Haller, Chief Executive Officer of IXI Mobile, Inc. added, "I would like to thank our stockholders, employees and everyone else for their support and contributions during this process. We believe this approval represents a major milestone for IXI, as we are now optimally positioned to grow our business, add customers and continue working to expand the Ogo's presence in the worldwide mobile communications arena." Haller added, "In the last eighteen months, we have brought Ogo to new markets such as Germany, Latin America and Africa, and will be re-launching the product in the United States in the near future, in line with our overall rollout strategy. Each of these markets possesses significant growth potential for IXI and we plan to remain aggressive going forward, bringing our technology into new markets with new partners, capitalizing on the continued growth in demand for robust, cost-effective mobile data solutions." About IXI Mobile Headquartered in Redwood City, CA, IXI Mobile, Inc. offers solutions that bring innovative, data-centric mobile devices and services to the mass market. IXI Mobile's Ogo devices are designed to improve the mobile user experience and increase mobile voice and data usage. The company provides a turn-key solution to mobile operators and Internet service providers around he world to launch and support Ogo products. For more information on IXI Mobile, please visit www.ixi.com. <snip> biz.yahoo.com