National daily "Ma'ariv" reports that high tech company MediaGate is planning to issue on the US stock exchange, at $150 million company value.
Last week, Dutch company Victory High Tech, of the Europe-Israel group, controlled by Motti Zisser, entered as a partner in MediaGate. Victory will pay $3.5 million for 7% of the shares, which represents a company value of $30 million before money.
Elron and Clal jointly invested $3.5 million, in exchange for a similar percentage of shares. Elron and Clal already hold 10% each of MediaGate shares, after investing in $12 million in the company in August 1998.
MediaGate developed an Internet access server enabling telephone hook-up to other media (e-mail, fax, pager, ICQ, and video calls).
Europe-Israel is already invested in Internet companies, such as Friendly and Vanguard. High tech division head Reuven Regev represented Europe-Israel in the deal.
Published by Israel's Business Arena on November 28, 1999