Kardan NV (TASE: KRNV;AEX:KARD) subsidiary UniCell Advanced Cellular Solutions Ltd. has acquired the activity of Fishman Holdings subsidiary TippCom Ltd., a provider of cellular content and infrastructure services, which operates in Israel, Europe, and the US.
The acquisition was reportedly made for several tens of millions of shekels in cash and a share-swap, after which Fishman Holdings will own 20% of UniCell. The deal is due to be closed in a few weeks, subject to approval by the Antitrust Authority.
Israel’s cellular added value services market is estimated at over NIS 1.1 billion, and is dominated by the country’s cellular operators. UniCell is a Wireless Application Service Provider (WASP) for the business sector and ad agencies, as well as entertainment content solutions for the household sector.
TippCom provides cellular content services for the household sector and infrastructure and added value solutions for the business sector. The company’s customers include Israel Electric Corporation (IEC), Yediot Ahronot Ltd., Walla Communications Ltd. (TASE: WALA), ICQ, Hot Cable Systems Media Ltd. (TASE: HOT), YES satellite broadcaster, MSN Israel, Mifal Hapayis National Lottery, and Channel 10.
Eliezer Fishman is the controlling shareholder in “Globes”.
Published by Globes [online], Israel business news - www.globes.co.il - on April 29, 2007
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