Tech Watch: Ness buys Innova; Leadcom wins $15m. African pacts

By AVI KRAWITZ
February 7, 2006 07:21

Headquartered in the US and India where it employs 700 people, Innova focuses on financial services, which is a strategic growth point for Ness.

1 minute read.



tech watch 88

tech watch 88. (photo credit: )

Tel Aviv-based Ness Technologies Inc. said Monday it agreed to buy IT services provider Innova Solutions for $25 million, of which $10m. will be paid over the next two years based on the achievement of certain performance goals. Headquartered in the US and India where it employs 700 people, Innova focuses on financial services, which is a strategic growth point for Ness. On completion of the deal, expected before the end of March, Innova will change its name to Ness Financial and Business Innovation Services. Leadcom Integrated Solutions Ltd. won new contracts in Tanzania and Liberia valued at $15m., to plan, design, supply and implement telecom sites, and supply microwave transmission equipment. Integrated circuits manufacturer Tower Semiconductor Ltd., has begun the production of wireless LAN products for Atheros Communications, Inc., a developer of advanced wireless solutions, at its Fab2 facility in Migdal Haemek. Samsung Electronics Co., the world's largest maker of computer memory chips, and its nearest rival Hynix Semiconductor Inc. said they raised prices to their biggest customers this month amid a shortage, Bloomberg reported. Personal computer makers don't have enough memory as suppliers including Samsung and Hynix shift away from personal computers to make more chips for consumer electronics. Spot prices of the benchmark computer memory chip, which fell 66 percent last year, have surged 38% this year, according to Taiwan-based DrameXchange.com. Tel Aviv-based start-up Nemesysco launched its HR1 application, which it claims is the first commercial human resources product in the world to use quantitative voice analysis to evaluate employee integrity and credibility. Ra'anana-based NICE Systems and US-based Avaya Inc. have agreed to extend the scope of their collaboration to deliver the benefits of IP contact centers to businesses. The extended alliance will include developing a joint offering of applications, working on strategic marketing initiatives, and increasing resources to leverage shared business opportunities. Netanya-based Siano Mobile Silicon, a fabless manufacturer of integrated semiconductor receivers for mobile digital television (MDTV), said it will make the European debut of the first multi-standard receiver for MDTV in Stand G50 at the 3GSM World Congress, taking place February 13-16 in Barcelona.


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