Sources inform "Globes" that Israeli start-up company Kidaro is in negotiations over the acquisition of the company by software giant Microsoft for $100 million. No comment was available from the company on the report. An agreement is expected to be announced in the next few days.
Kidaro was founded in 2004. So far, $14 million has been invested in the company by Genesis Partners and US venture capital funds Opus Capital and Storm Ventures. Kidaro's founders are Ran Kohavi, who serves as a vice president of the company and was previously director of product management at Kashya, which was sold to EMC, Itzik Levy, vice president for R&D, who formerly managed large IT projects in government institutions, and Ran Oelgiesser, VP of product marketing and formerly a senior manager at Cyota, which was sold to RSA.
Kidaro's field of activity is desktop virtualization, a field that Microsoft sees as strategic.
If the acquisition deal goes ahead in the next few days, Israel's high tech industry will once again have proved that innovative software companies can be set up that will not burn a lot of capital and will make successful exits.
Two weeks ago, Microsoft bought Israeli ad targeting technology company YaData for a reported $20-30 million.
Published by Globes [online], Israel business news - www.globes.co.il - on March 12, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008