Ezra Harel, famous for upgrading properties (Rogosin, Maman, ICT), has done it again, at the speed to which we have become accustomed. Today he could afford to smile once more. Gilat Satellite Communications announced that it was acquiring John Bryce Training at a consideration of 12% of its shares, in a total of $20 million.
Harel can feel pleased with himself, because ICT, which he controls through Lidan, acquired control in John Bryce a year and a half ago, for only $4 million.
John Bryce Training is an Israeli computer and software studies training centre and the authorised training centre of software and communications companies such as Microsoft, Oracle, Novell, Cisco, Check Point and Nortel.
And what is the connection between John Bryce and Gilat Communications? Well, Gilat Communications, listed on Wall Street at a value of $163 million, engages in the sale of satellite services.
The activity relevant to the deal is of course Gilats distance learning services, which it provides to various bodies in Open University style.
The purpose of the acquisition was to build capabilities of three kinds for providing customers with a comprehensive solution: management and application systems, transmission systems (satellite communications) and also content the part that John Bryce will take. The business focus in this area will be mainly on the US market.
Published by Israel's Business Arena November 18, 1999