The company may buy a competitor which specializes in enterprise networks.
Sources inform ''Globes'' that Malam Team Ltd. (TASE: MLTM) is in advanced talks to acquire NetVision Ltd. (TASE: ) subsidiary Netwise Ltd. for NIS 15-20 million. Should it go through, the acquisition will be Malam's fifth since the beginning of the year and is relatively large compared with its previous ones.
Netwise serves as Netvision's applications arm for the development of web-based software solutions. The company recently expanded its R&D activity to the enterprise sector, developing applications such as customer relations management solutions. Netwise is a form of hybrid between two other subsidiaries, Netvision Applications, and AdWise, which Netvision acquired in a stock-swap deal in early 2006.
Netwise's activity makes it a competitor with other local IT firms, including Ness Technologies Ltd. (Nasdaq: NSTC), Matrix IT Ltd. (TASE:MTRX), and Malam itself.
Published by Globes [online], Israel business news - www.globes.co.il - on December 2, 2007
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