The company will be paid $1 million immediately and $5 million more by the end of the year.
Sources inform ''Globes'' that car fleet management solutions start-up Traffilog Ltd. has sold its US marketing rights to a US businessman for $6 million. The company will set up an office in New Jersey under the name Traffilog USA.
Traffilog will be paid $1 million immediately and the balance by the end of the year. The company predicts $10 million in sales in the US in 2007.
Traffilog CEO Robert Izraeli and executive VP R&D Adi Amihai founded the company in 2003. The company provides innovative technological solutions for managing car fleets that slash operating and administrative costs.
Published by Globes [online], Israel business news - www.globes.co.il - on January 30, 2007
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