Sagi reportedly made the investment from a $100 million fund that he set up in Cyprus.
Playtech controlling shareholder Teddy Sagi has invested in SaaS start-up Reimage Inc.. Headquartered in Ramat Gan, Reimage was founded in 2007 by CEO Zak Dechovich. The company has developed an online service that automatically repairs Windows XP systems within minutes leaving user data in tact.
The amount of Sagi's investment has not been published but sources close to Reimage say that the sum is between $5-7 million. Reimage raised $2.6 million in a previous round of financing from Crossbar Capital.
Sagi has reportedly made the investment from a $100 million fund that he set up in Cyprus. The fund's strategy is to acquire control in start-ups and streamline their activities. This is reportedly the fund's second investment. The first was in an overseas start-up developing instant messaging software.
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2009
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