The acquisition is part of Netex's strategy to expand its foothold in the Israeli Internet market.
Netex (Net Express) Ltd. (TASE:NTX) subsidiary Netex New Media Israel Ltd. has acquired Israeli visual web index site Kafe for NIS 2 million. The acquisition is part of Netex's strategy to expand its foothold in the Israeli Internet market, and Kafe's operations are in synergy with the company's new homepage, launched six months ago.
Kafe was founded four years ago. The site is the homepage of many Israeli Internet users. Netex said in its notice to the TASE about the deal that one million users visit Kafe's homepage every month.
Netex's share rose 0.8% by early afternoon to NIS 14.16, giving a market cap of NIS 66 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2009
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