The sale will likely rescue Telrad Connegy from its recent cash flow problems.
Telrad Connegy Ltd. has sold its Israeli operations to WiseCom Communication Solutions Ltd. for NIS 5 million. Telrad Connegy chairman Avi Weinrib signed an agreement with WiseCom CEO Koresh Avrahami to this effect last night.
The sale will likely rescue Telrad Connegy and Weinrib from their recent cash flow problems and enable the company to focus on R&D and production. Telrad Connegy's business in Israel totals NIS 20 million a year.
WiseCom will become the primary distributor of all Telrad Connegy products in Israel, and will provide technical support services for these products. Telrad Connegy will also transfer its Israeli customers portfolio, its customer support services, and distribution network to WiseCom.
Telrad Connegy develops, manufactures, and markets worldwide IP-based telecommunications systems that combine soft phone applications and remote IP stations in classic telephony systems.
Published by Globes [online], Israel business news - www.globes-online.com - on July 31, 2008
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