Business Services Industry
High Tech Buyouts.
Israel Business Today, March, 1999
The announcement in March 1999 by the American high tech firm BMC Software that it was buying New Dimension Software of Israel for $650 million was quickly followed by another American company, SunGard Data Systems based in Wayne Pennsylvania announcement that it would buy Oshap Technologies based in Herzlia, Israel for $210 million.
Observers of the Israeli high tech industry were quick to ask if these buyouts were good for the future of the Israeli industry. In order to show how good these buyouts really are, both buyers immediately pledged to keep the local companies active in Israel and to continue to develop products here that will be sold to a wider range of customers around the world. BMC Software pointed to the example of the last high tech company it...
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