Bezeq has signed an agreement of principles with Clal Information
Technologies for the purchase of shares in Adanet for Business Group
for 5 million US dollars. In addition, the company will invest a
further 5 million dollars in the form of a shareholders'
Bezeq CEO, Ilan Biran, welcomed Adanet to the Bezeq Group, noting the
importance of this investment for Bezeq as part of its efforts to
expand the basket of products for its customers. Bezeq has become a
shareholder in Adanet so as to run it as a profitable company while
retaining its quality personnel.
Michal Even-Chen, Vice President for Business Development at Bezeq,
said that Adanet is the first large investment approved by the Board
of Directors in 2001. "We welcome everything it stands for -
investment in a growing and profitable company, whose business will
integrate with that of the Bezeq Group for their mutual
Adanet Group is involved in the application and integration of data
communications solutions, data security solutions and network
management, and the supply of a range of communications equipment,
servers and peripherals. Among the companies in the group are Adanet
Communications, U.D.I., Kisnet, Datatech and Broadsite.
Closing of the transaction is contingent upon the requisite approvals
and completion of the due diligence process.