Written by: Aaron Katsman | January 23, 2008
Rumours are again circulating that Gilat Satellite Networks(GILT) is about to be acquired. We reported on this a few months ago and it appears that we actually got one right. Giddy up!Globes is reporting, “that after months of rumors and speculation, Gilatcould be sold in the near future. It is believed that a group headed by Mivtach Shamir Holdings Ltd., one of its current shareholders, is close to signing an agreement for the acquisition of Gilat, after raising its bid to $11.60 per share. The new offer reflects a valuation of $455 million for Gilat, or $483 million fully diluted, and a 14.2% premium over its current market price.
Gilat develops and produces very small aperture terminals for satellite-based communications networks. As my buddy Zack Miller wrote,”Competition in the satellite industry is heating up. Media companies, along with cable and wireless companies, have declared their desire to enter the satellite communications market. Instead of building an entire division dedicated to this, some of these companies are looking to either partner with, or acquire,an existing firm with good sales distribution. Gilat, with its focus on emerging markets and strong balance sheet, could be a good acquisition candidate.”
Disclosure: Author’s fund holds a position in GILT. He has no position in any other stock mentioned as of 1/23/08.
Please see our Disclaimer HERE.
NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.
Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Comments (2)
Category:
gilt,
in the news,
israel,
m&A,
telecommunications
Tags:
gilat,
gilt,
IPO;M&A,
israel newsletter,
israel stocks in US,
Israeli acquisition;,
m&A,
satellite
Written by: Aaron Katsman | December 10, 2007
Aaron Katsman
www.IsraelNewsletter.com
As if investors needed a reminder that Israel is an attractive investment destination for multinationals, the news today the Hewlett-Packard(HPQ) is spending $117.5 million to buy Israeli NUR Macroprinters Ltd(NURMF.pk) is just that reminder. While M&A of publicly traded Israeli companies has sagged this year, this move by HP should remind investors of the tremendous bargains that these Israeli stocks which trade in the US, provide.
Leave it to HP to serve up that reminder. The company has been extremely active when it comes to investing in Israel. Today’s move expands HP’s portfolio of digital presses and wide-format printers and furthers its strategy to digitize analog prints.
A big congratulations for the team at Fortissimo Capital on an amazing investment. They invested $12 million in December ‘05 for 55% of NUR Macroprinters, as the company was on the verge of collapse. Today, that investment is worth more than $60 million!
Please see our Disclaimer HERE.NEW! Introducing Israel Opportunity Investor, our monthly subscription-only newsletter. Stay ahead of the game and make smart decisions in Israel stocks. Go here to learn more.Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
Written by: Aaron Katsman | November 30, 2007
Aaron Katsman
www.IsraelNewsletter.com
Elbit Medical Imaging’s(EMITF), subsidiary InSightec has raised$30 million in an internal financing round. Investors were Elbit Medical Imaging subsidiary Elbit Ultrasound (Netherlands) BV, General Electric Company (GE) subsidiary GE Capital Equity Holdings Inc., MediTech Advisors LLC, and some InSightec directors and officers. Elbit Ultrasound invested $19.8 million, boosting its stake in InSightec to 53%.
InSightec develops a product that combines MRI technology with focused ultrasound in order to treat serious diseases such as bone, liver and brain tumors, without the invasive procedures that are currently used.
The question needs to be asked when they plan on an IPO? There have been rumours for the better part of 2 years as to a billion dollar IPO but to date nothing has been done.
In an interview with Globes, Elbit Medical Imaging president Shimon Yitzhaki answered the question:
Globes”: You originally planned to float InSightec in 2005 and sales haven’t risen substantially since then. Are you disappointed?
Yitzhaki:“Not at all. InSightec is an amazing breakthrough company. The board tells us that it will be worth billions, maybe more than all our real estate deals. Just a little patience is needed.”
Yitzhaki noted, “We believe that with the products in the pipeline and insurance reimbursement, within two or three years, we’ll reach hundreds of millions in sales.”
Will you reopen your IPO plans?
“We’re waiting on the IPO until we have insurance reimbursement from a number of insurers as well as FDA approval for at least one of our cancer treatments. There are also other options besides an IPO.”
Please see our Disclaimer HERE.
Disclosure: Author has a position in EMITF. He has no positions in any other stock mentioned as of 11/30/07.
Like what you see? Sign up to receive daily updates from IsraelNewsletter here
Aaron Katsman is the lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.
