The company expects the Incubator Authority to limit the number of incubators held by one single company.
Capital Point Ltd. (TASE:CPTP) has had its franchise to operate the Ofakim High Tech Ventures and Meytag Technology Incubator incubators extended by The Office of the Chief Scientist Incubator committee through September 2001. This is the third time the company's franchise has been renewed.
Capital Point was the target of a takeover bid six months ago by another public incubator management company Maayan Ventures Ltd. (TASE:MAYN) six months ago. Maayan called off its tender offer at the last minute, after it received an indication from the Incubator authority that it was likely to impose a limit on the number of incubators held by a single business entity.
Capital Point said in its announcement yesterday that the Incubator Authority had already decided how many incubators an individual company could run but that this decision had not as yet been made public.
Published by Globes [online], Israel business news - www.globes.co.il - on February 21, 2008
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