Kosher Highlights

Receive Kosher Highlights in your Email Inbox or RSS Feed!

Monday, October 01, 2007

AT&T Enters Israeli Market, Gobbles Up Interwise



It looks as if the telecom giant AT&T will be entering the Israeli market for the first time evah! (note: what took them so long?)

AT&T is making its presence known by buying out Interwise, an Israeli company responsible for web conferencing--which for you non geeks out there means they help businesses talk, train, record meetings, etc. in cyberspace.

(Globes Online) After a long period without news of sales of Israeli high-tech companies, a major exit was announced today. Telecommunications giant AT&T Inc. (NYSE: T), through one of its subsidiaries, is buying IP network conferencing solutions company Interwise of Israel for $121 million. The acquisition, which is due to be completed by the end of the year, brings AT&T into the Israeli market for the first time. Interwise will continue to operate, as AT&T's local development center within AT&T Global Business Services, which serves the largest enterprises around the world and is led by Group President Ronald E. Spears.


According to globes, AT&T is planning on keeping the management as well as the 140 staff members which is definitely good news as most buy outs often translate into corporate layoffs.

AT&T is planning on turning Interwise into its Israeli R&D center, and the company should provide some interesting competition against Google which is already invading AT&T's space (within the internet industry) in the US.




Want more good news about Israel?

Enter your email address below to subscribe!

Enter your email address:

Delivered by FeedBurner

Have a feed reader? Subscribe via RSS or Atom.



2 comments:

  1. This can't be bad. Their Internet connectivity is great in the US.

    ReplyDelete
  2. It's great in the US, although the customer service may be a different issue.

    If AT&T simply improved upon that, they would easily be number one.

    ReplyDelete

Welcome to IsraGood, where you will find good news about the Holy Land (aka Israel).

Feel free to post your opinions below...and please keep your comments kosher!