Better On-Line Solutions (BOS) announced today the closing of the transaction with Catalyst Investments, L.P. Catalyst has been issued 2,529,100 (16.60 percent) BOS shares, in exchange for transferring to BOS most of its shares in Surf Communications Solutions Ltd. BOS is now the largest shareholder in Surf.
Catalyst has also notified the Company today that it has signed an agreement for the purchase of an additional 1,260,000 Company shares, from another shareholder, at a price of 47 cents per share. Thus, Catalyst will become the largest shareholder of the Company, holding almost 24.9 percent of its total outstanding shares.
Israel Gal, BOS CEO commented: "We believe that our new shareholder, Catalyst Investments, L.P., has much to contribute to our Company, and look forward to a productive business relationship."
Through its wholly owned subsidiary, BOScom, the Company develops, produces and markets technologically complex, multi-functional, cross-enterprise communication and networking products, marketed under the BOSaNOVA brand.
The IP Telephony line offers convergence migration solutions that leverage a corporation's existing equipment infrastructure. The legacy line provides solutions for IBM midrange-to-PC and LAN connectivity and GUI emulation, and printing solutions that are operating system-independent. B.O.S. was established in 1990 and became a public company traded on the NASDAQ National Market in 1996, and on the Tel Aviv Stock Market in 2002.
Surf Communication Solutions Ltd., an affiliated company, develops and supplies software-based access solutions that are integrated into manufacturers' original equipment in the telecommunications, data communications, telephony, and consumer electronics industries.
Catalyst, an Israeli Venture Capital Fund that invests in mature companies, private or public, was founded by Cukierman & Co. Investment House Ltd., leading in European investments in Israel. The Investment House has raised for Israeli companies approximately 300 Million Euro from European investors. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
