cell phone 88.
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Dividends were the talk of the local telecommunications market this week as Bezeq said it expects to distribute NIS 1.2 billion worth to shareholders, despite posting a 5 percent decline in net income to NIS 591 million in 2005. Revenues for the year were NIS 11.1b. Its cellular subsidiary Pelephone, which had a 27% decline of profits in 2005 to NIS 236m., will distribute a dividend of NIS 300m. to Bezeq.
Earlier in the week, fellow cellular provider Cellcom Israel Ltd. said it plans to raise NIS 4.2b. through the sale of bonds and to distribute NIS 3.64b. of the proceeds as a dividend.
Meanwhile, in presenting its earnings as part of the Bezeq group, multi-channel television provider Yes said it added 10,000 subscribers in the four months ended January, increasing its total to 522,000. This helped Yes narrow its net loss from NIS 301m. in 2004 to NIS 236m. last year.
Information technology products supplier Formula Systems reported a drastic drop in net income in 2005 to $183,000, from $8.1m. in 2004. The Herzliya-based company said weakness in certain subsidiaries and a reassessment of intangible assets and deferred tax assets in certain of our subsidiaries, resulted in "unsatisfactory" financial results.
Israel Technology Acquisition Corporation has agreed to purchase IXI Mobile, Inc., the developer of the Ogo family of mobile messaging solutions, in a stock options transaction, where IXI owners will own or have the right to acquire approximately 7.8 million shares of ITAC common stock. Seattle-based IXI has an R&D facility in Israel.
Airport City-based AudioCodes has brought to market its MediaPack MP-202 Telephone Adapter, a member of the MediaPack gateway series, based on AudioCodes' VoIPerfect core technology. The product benefits from advanced voice technologies for an enhanced voice quality and user experience, and will allow residential and SOHO subscribers to connect ordinary POTS telephones or fax machines, and can be applied to leading softswitches and SIP application servers for enabling legacy phone services such as caller ID, call waiting and call forwarding.
Wireless broadband solutions provider Alvarion Ltd., announced the commercial availability of BreezeACCESS 4900, an extension of its market leading wireless broadband platform using the 4.9 GHz frequency band. The platform was developed specifically to meet the secure broadband communications needs of the US public safety market.
Givat Savyon-based quality assurance provider Tescom Software Systems Testing Ltd. has won a tender for software testing and quality assurance with Israel Industrial Products, a sister company of Israel Chemicals.
Israeli Internet security giant Check Point Software Technologies Ltd. was named a 2006 CRN Channel Champion in the network security software category based on results collected from a study indicating Check Point's channel leadership.