Release Details

Bezeq investing 4 million dollars in Britannica earning Channels

February 7, 2001
Bezeq investing 4 million dollars in Britannica earning Channels
February 7, 2001
Bezeq has signed an agreement of principles with Britannica.com Israel
for the acquisition of 44.44% of the share capital of Britannica
Learning Channels Ltd. for 4 million US dollars. The value of
Britannica Learning Channels ("Britannica") was assessed at 5 million
US dollars before Bezeq's investment. Britannica is setting up an
educational-learning portal on the Internet, based on content from the
Educational Technology Center ("ETC") and World Britannica.

Ilan Biran, CEO of Bezeq, welcomed the contribution of the company to
accelerating the development of the broadband educational content
market in Israel. He said that Bezeq sees broadband technology and
content as important elements in the company's development in a
competitive age, and added that joint ventures with world leaders in
educational content, such as Britannica, are important for Bezeq's
business development.

Michal Even-Chen, Vice President for Business Development at Bezeq,
said that Bezeq's investment in Britannica is part of the company's
policy to progress in the direction of content. "We are proud to be
partners with an entity which is so essential a part of the education
market in Israel, which we have identified as a layer in creating
dedicated content packages for broadband users," said
Even-Chen.

Britannica.com Israel is a wholly owned subsidiary of Britannica.com,
controlled by businessman Yaakov Safra. Ilan Yeshua, Vice President of
Britannica.com Israel and Senior Vice President of Britannica,
believes that in the coming two years, Britannica Learning Channels
will become one of the leading entities in Israel for building
learning content portals for children and youth in the home market.
Yeshua noted that Britannica will use the expertise of the development
team as well as the extensive digital library of ETC and the quality
content of the Encyclopedia Britannica.

Closing of the transaction is contingent upon the due diligence
process by Bezeq, signing a detailed agreement, and obtaining various
approvals.

About Briannica.com Israel
Britannica.com Israel was established several months ago, following
the acquisition of several divisions which formerly operated within
ETC by Britannica.com. USA. Britannica.com Israel, headed by Ilan
Yeshua, consists of four subsidiaries: Britannica Information Systems
("Bareket"), considered one of Israel's leaders in distance learning,
both in the organizational market (Israel Air Force, Bank Leumi and
others), and in the higher education market; Melingo - Language
Technologies, which develops NLP applications and a series of products
in Hebrew language fields, from dictionaries to text-to-speech
production; Britannica Learning Channels, which builds learning
content sites for the Israeli home market for children, parents and
teachers, and Britannica School Research and Development, which is
developing a school content site for the American and international
markets for Britannica.

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