Israeli Hi-Tec company sold for $140 million

Motorola Inc., a communications and cellular phone giant based in the US, bought the Israeli-owned company Terayon for $140 million, the Web site NFC reported Monday afternoon. Terayon specialized in the past in making broadband modems for cable-based Internet, which combined broadband capabilities with VoIP (Voice over Internet Protocol), and currently develops digital video technologies. Terayon was founded by brothers Shlomo and Zaki Rakiv. Following the deal, the founders hold 11% of the company's shares, while Motorola controls the other 89%.