21st Nov 2006 07:03
Emblaze Ltd21 November 2006 Emblaze completes purchase of controlling interest in Formula Systems Ra'anana, Israel, 21 November 2006: Further to the announcement on 12 September,Emblaze Ltd (Emblaze or "the Group") announces that it has completed thepurchase of 33.4% of the entire issued share capital of Formula Systems (1985)Ltd (NASDAQ:FORTY) (Formula or "the Group") from its largest shareholder,Fimgold Partnership Ltd. Also, Emblaze has purchased an additional 4.9% in the open market. Formula Systems (1985) Ltd, is a global solutions provider of technology,software and IT solutions for a wide range of enterprise sectors in over 50countries. It directly expands Emblaze group with additional activities in theglobal technology arena adding thousands of blue chip clients and productoffering to the Group's portfolio. Eli Reifman, Chief Executive Officer of Emblaze said: "This is another steptowards realization of our vision to become a significant player in thetechnology, software and IT markets. Formula Systems, sitting alongside theEmblaze group companies, will expand our business and assets-base anddramatically increase shareholder value. We will still retain much of our cashand intend to continue growing Emblaze both organically as well as via mergersand acquisitions. This transaction is expected to nearly double the size andprofitability of the group in 2007 as a result of this acquisition and continueglobal expansion. " Enquiries: Emblaze LtdDoron Cohen/Emblaze +972 9 7699831/339 Corfin CommunicationsHarry Chathli, Neil Thapar +44 20 7929 8989 About Emblaze Group Emblaze Ltd is a group of companies sharing a common mission to provide telecomoperators with technologies, products and solutions for next generationservices: Emblaze Mobile, a new breed in handsets design and manufacturing;Emblaze VCON, is a leading provider of wireless video communicationstechnologies and conferencing solutions for operators and enterprise marketsover IP networks; Orca Interactive (LSE: ORCA), provider of InteractiveTelevision IPTV middleware for Video On Demand (VOD) and broadcast services,aimed at Telecom, cable and xDSL operators; Emblaze SmartContent, developer ofhighly advanced technology for Content-Push over wireless and IP networks tomobile devices and personal computers; emoze, a free global Push Email servicefor mobile devices that will push send your Emails and PIM data to you anywhereand to any device and Visual Defence (LSE: VDI), a provider of wireless and IPvideo solutions for military and homeland security markets. Emblaze Group is traded on the London Stock Exchange (LSE: BLZ) since 1996 andhas offices in the United States, Canada, United Kingdom, China, Korea andIsrael. www.Emblaze.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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