Netex will split off its Israeli operations into a subsidiary.
Channel 2 franchisee Keshet Broadcasting Ltd. has bought 25% of a Netex (Net Express) Ltd. (TASE:NTX) subsidiary, to be called Netex Israel Ltd., at a company value of $10 million after money. Keshet will be a strategic partner in Netex Israel. Netex provides website search and customized Internet and cellular advertising services.
Netex will transfer to Netex Israel advertising and marketing services for the Internet, cellular and television. Keshet has a two-year option to double its stake in Netex Israel to 50% at a company value of $14 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 26, 2008
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