The investment fund bought 38% of the satellite Internet company.
Investment fund Shamrock Holdingshas made another acquisition in Israel. The fund acquired 38% of satellite communications and services company SkyVision for $25 million.
The ownership of SkyVision is shared between the founding group, which includes CEO Mark Gazit, who jointly hold 30%, and Cypertech, (which also holds Walla! Shops), controlled by Ilan Fadlon, Amir Adler, and Shai Livnat, which jointly hold 70%. The latter three should be very satisfied, since the deal reflects a value for SkyVision of $66 million, compared with $2 million when they bought their 70% stake two years ago.
SkyVision provides broadband solutions, and Internet connectivity services. The company operates in more than 50 countries, primarily in emerging markets across Africa and Eastern Europe.
Published by Globes [online], Israel business news - www.globes-online.com - on September 24, 2008
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