Trendline buys Tapuz Internet activity

Tapuz is Israel's fourth most popular portal, with 1.3 million real users in July.

Trendline Information and Communication Services Ltd. (TASE: TREN), which owns websites Bizportal, Ice, and Takdin, has acquired the Internet activity of Tapuz People Ltd. (TASE:TPUZ) for NIS 4.3 million. The activity includes the portal's forums and blogs, joint video site Flix, and 50.1% of the children's portal, My First Homepage. Closing the deal is subject to approval by the Antitrust Authority.

The deal leaves Tapuz as a stock market shell, with cash and Netcraft Ltd., an Internet characterization and design company. The company has a market cap of NIS 13.2 million, including the activities sold to Trendline.

Suny Electronics Ltd. (TASE: SUNY), controlled by Ilan Ben-Dov, which put Tapuz up for sale a long time ago, recently held an auction for the company's Internet activity.

Tapuz is Israel's fourth most popular portal. According to the Midroog Committee survey on computer Internet use, Tapuz had 1.3 million real users in July.

Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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