MTI designs and produces antennas for defense and civilian use.
Inspire Investment Ltd. (TASE:INSP) has acquired a 39% controlling stake in MTI Computers and Software Services Ltd. (TASE:MTCO) from Mokirey Aya Ltd., controlled by the Borovich family, for $16.3 million, giving a company value of $42 million.
MTI employs 132 people. The company and its subsidiaries design and produce antennas, and wireless communications systems for the civilian and defense markets. It also acts as the local agent for international electronics and alarm systems manufacturers. The company conducts most of its activity through its London-traded subsidiary, MTI Wireless Edge Ltd. (AIM:MWE), in which it has a 47% stake.
Published by Globes [online], Israel business news - www.globes.co.il - on September 2, 2007
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