Business Services Industry
Comverse On The Verge Of Buying Israeli Start-Up Company.(Brief Article)(Statistical Data Included)
Israel Business Today, September, 2000
Comverse the highflying Israeli Nasdaq listed company is expected to purchase Speedwise, an Israeli start-up company that develops applications for high-speed internet access, downloading web content and cellular surfing. Comverse already owns 10 percent of Speedwise, which it purchased in June 2000 for $1.3 million.
Speedwise was established in July 1999 and has excited the industry with its' breakthrough technology. Comverse has various options for purchasing Speedwise that are linked to the company's rising market value. The option price for April 2001 is $120 million, in June 2000 Speedwise was valued at $13 million. With Speedwise's price increasing so quickly, shareholders think Comverse may hurry to make the deal Comverse is branching out from the...
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