DVTel acquires ioimage? If the translation is to be believed: Yes.
No official releases have come across my desk, and I can't find anything in English using Google News, but at least three Israeli sources have IP video manufacturer DVTel buying ioimage for an estimated value of $80 million in an all-stock transaction (thanks to IPvideomarket.info for the heads up - caught his mention on Twitter over my morning cereal while in the process of forgetting to put my daughter's sneakers in her backpack for gym class...). Know how to use Google translator? If so, you too can read the garbled English I'm about to foist on you. The translation comes from TheMarker.com:
"Maybe I come back into the family business. Might be for me to continue to invent things. I have not decided finally," said Ronnie Kaz (40), interview TheMarker. Kaz yesterday completed the sale of company Ioimage DVtel American company, its Central Research and Development Center in a large, stock exchange transaction. Two private companies, making it difficult to estimate what share Kaz gets shareholder, holding 100% of Ioimage.You get the idea. Kaz sold ioimage to DVTel, and the Marker believes the deal to be a done one.
It is estimated that currently shares are worth $80 million, when Kaz says the deal includes another component that might bump the price tag. Also, Kaz said it was worth on paper only, ie the value determined under the merger agreement between the two companies by shareholders, since these are two private companies.So, if it's an all-stock deal, DVTel, which isn't publicly listed, gave Kaz a piece of the company it estimates to be worth $80 million. It stands to reason that DVTel isn't going to under estimate its own worth, and Kaz has no reason to minimize the amount he's getting for his company, but neither does he want to just give away what is by all accounts a pretty good performing video analytics company, with a strong brand, good-looking product, a very focused go-to-market, and a strong presence at the industry trade shows. Unless he's actually bleeding money all over the place. It's hard to tell. Apparently, he doesn't need the money:
Current exit is expected to enrich the Kaz millions of dollars but not sure he needs it. His father, Israel Kazimierz, is one of control in the Phoenix insurance company car imports Meyer, along with Meir Shahar. recycling activities for 2008 includes the vehicle group was 1.243 billion. It imports vehicles including the Volvo, Jaguar and Honda.That's just an awesome paragraph. Translating is fun! The point being: Kaz is rich! Or at least his dad is. I think. And, of course, it gets better. I'm learning to love the Isreali papers here:
Kaz is not initiated a typical startup CEO - he lives in Herzliya development, not just hungry entrepreneur. In the last decade, he describes himself as CEO who worked very hard - 20 hours a day. But alongside it is also know to take some time various hobbies - primarily bodybuilding. The gauze used to browse through the chutes along with his surfer Gal Fridman, more recently, playing tennis.Kaz is not only rich, but he's a body-building surfer. That's fairly brilliant. Really, I could go on quoting the article all day - there's stuff about how dumb cameras are and such - but I'll leave you with the final paragraph: Do you regret not taking the company's higher? Deal of cash perhaps? "Were once attractive bids for Ioimage cash, but it did not work out. I really believe the merge. DVtel this serious company. Eli Gurevich, its CEO, is an amazing guy. He will bring the company to new heights. I experienced a combination of bad luck with the economic crisis that led to the plea of Ioimage cash sale was canceled. But that's okay, I'm not sorry." So, a cash sale was in the works at some point. With DVTel? With a company like NICE? With one of the larger American video companies? Hard to know.