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25 ways to make a profit in 2008 - Times Online
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9 Israel on the move
British investors have tended to ignore Israel, but its stock market will be
thrust into the limelight this year when it is promoted from emerging to
developed market status.
FTSE, which creates stock-market indexes, is planning to reclassify Israel in
June, forcing many tracker funds to buy into the market for the first time.
There are more than 20 Israeli companies listed on the London Stock
Exchange. Technology firm BATM Advanced Communications is the biggest: in
2007 its shares fell 5%.
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Globes Online – Israel business news – Israel economy – Israel banks – Tel Aviv Stock Exchange – Israel stocks - Shekel – Israel technology – Israel real estate – Israel defense companies - Globes [online] - "XIV will be a very serious center for IBM"
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"XIV will be a very serious center for IBM"XIV chairman Moshe Yanai justifies jettisoning the dream of independence in favor of acquisition by a giant.Shmulik Shelah and Shiri Habib 2 Jan 08 20:16
"XIV is going to be a very serious center for IBM in Israel, one that will employ a lot of people," XIV executive chairman Moshe Yanai said today after the official IBM's announcement that is buying the company. The acquisition was first reported in "Globes" at the beginning of this week. It is believed that IBM will pay $300 million for XIV. This is IBM's most substantial acquisition in storage for many years.XIV develops storage solutions based on Grid networks that manage an enterprise's computing resources. The company has raised only $3 million to date, from private investors (according to IVC Online), so that no venture capital firms are involved in the sale, while the largest shareholder in XIV is Yanai, with a 75% stake, for which he will receive $225 million.
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Yani has said several times in the past that he hopes to set up an Israeli Nokia. At the press conference that IBM and XIV held today, he tried to explain the rationale for the sale and for foregoing the dream. "It would have been possible to go it alone, and then it would have taken longer, but with greater potential and perhaps a greater sense of achievement. There was also the possibility of combining with IBM, who are dominant in IT. We joined IBM, and this could further the vision of Intel number two in Israel," Yanai said.
IBM and XIV insisted today on maintaining secrecy about the financial aspect of the deal, the identities of XIV's investors, and how much money has officially been invested in the company. They would only talk about the future, and even then somewhat vaguely.
"What has happened here is what I call the Intel vision," Yanai said. "It’s not a case of the government investing in a bunch of guys at Talpiot (an Israeli army military technology development program. Ed.) and then all the technology going abroad. On the contrary, IBM is bringing its technology here, and there will be a large storage development and production center here."
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