Optibase Ltd. today announced the purchase of 3,035,223 ordinary shares of Scopus Video Networks Ltd. ("Scopus"), representing approximately 23% of Scopus' issued share capital, from Koor Corporate Venture Capital and Koor Industries Ltd. at an aggregate purchase price of approximately US$ 16 million.
Scopus develops, markets and supports digital video networking products that enable network operators to offer advanced video services to their subscribers.
Tom Wyler, Chairman and Chief Executive Officer of Optibase, commented, "We believe that this investment in Scopus represents an attractive investment opportunity. We intend to monitor Scopus' business, operating results and financial position and depending on market conditions and our continuing evaluation of the business and prospects of Scopus and other factors, we may acquire additional securities of Scopus. We have not made any definitive plans or reached any definitive conclusions as to any future actions" - Optibase.
Posted January 13th, 2007 by Nymphadora
