Worldwide Financial Holdings (WWFH) has finalized and closed the merger for the acquisition of ISD Integrated Software Development (ISD). The former management of WWFI has been entirely replaced by the new management of ISD.
WWFI also announced the completion of the spin-off of Rebel. WWFI's former President Larry Schroder stated, "We have been working hard to increase shareholder value for this company. We feel that by spinning off Rebel, which was unable to generate revenue, profitability and decreased shareholder value and by acquiring ISD we will be able to greatly increase shareholder value. We feel that there is great potential for that value to the shareholders."
ISD is an Israeli software company, based in northern Israel, which has sold and installed its software to over 180 clients. Some of its clients which have bought and installed ISD's software include Fuji Film Israel, Motorola Telecommunications Israel, Ace Hardware, Super-Pharm, FRS Formula Group, Israeli Nuclear Powerplant, Israeli Airforce maintenance company as well as several Israeli hospitals. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
