28th Apr 2009 11:43
Emblaze Ltd. ("Emblaze" or "the Group") Directorate Change
Ra'anana, Israel - 28 April 2009: The Board of Emblaze today announces the appointment of Mr. Yuval Cohen and Mr. Shmuel Barashi as additional non-executive directors. Mr. Cohen and Mr. Barashi are both partners of Fortissimo Capital Fund ("Fortissimo")*, a growth equity fund focusing primarily on technology companies. The appointments will be effective as of 01 May 2009.
Mr. Cohen received an MBA from Harvard Business School and a B.Sc in Industrial Engineering from the Tel Aviv University. Prior to founding Fortissimo in 2003, Mr. Cohen was a General Partner at Jerusalem Venture Partners (JVP), a venture capital fund, from 1997 until 2002. Previously, Mr. Cohen held various executive positions in the Silicon Valley, including at Intel Capital and DSP Group. Mr. Cohen is currently the Chairman of Soda Club Holdings Ltd. and Telrad Networks Ltd., and a director in Hadasit and Poalim Ventures. Mr. Cohen was also the Chairman of NUR Macroprinters Ltd., a portfolio company of Fortissimo, until it was sold to Hewlett Packard in 2008.
Mr. Barashi received an MBA from the Hebrew University, an LLM from Bar Ilan University and a BA in Economic and Accounting from the Hebrew University. Mr. Barashi has been a partner of Fortissimo since 2005 and prior to that he established his own accounting firm that was later merged into BDO Israel, where Mr. Barashi became a senior partner. Mr. Barashi is currently a director of Soda Club Holdings Ltd. and was previously a director of Nur Macroprinters, a portfolio company of Fortissimo, until it was sold to Hewlett Packard in 2008.
Naftali Shani, Chairman of Emblaze said: "I am delighted that Mr. Cohen and Mr. Barashi agreed to join the Board and believe they will bring added value thanks to their global business experience and professional skills in the technology space."
There is no additional information which requires disclosure under paragraph 9.6.13R of the Listing Rules.
(*) As at 13 January 2009, Fortissimo holds 16% of the Company's issued andoutstanding share capitalEnquiries:Emblaze Ltd Hagit Gal +972 9 7699302/ 339 Corfin Communications
Harry Chathli, Victoria Ward +44 (0)20 7977 0020
About Emblaze
Emblaze Ltd is a group of technology companies addressing both growth and innovation activities thus combining the stability of "bread and butter" mature technology enterprises with "high-risk / high-reward" investments in innovation.
Our Growth arm includes Formula Systems , which harbors the following subsidiaries: Magic Software Enterprises Ltd. develops, markets and supports composite application development and deployment platforms with a service-oriented architecture (SOA), including application integration and business process management (BPM), with existing and legacy systems; Matrix IT Ltd. (TASE: MTRX) is one of Israel's leading integration and information technology services companies, active in four principal areas: software solutions and services, software products, infrastructure solutions and hardware products, and training and assimilation.; Sapiens International Corporation N.V. is a provider of IT solutions that modernize business processes to enable insurance and other companies to quickly adapt to changes; and nextSource Inc., designs, develops and implements web-based, high quality, innovative human capital management solutions.
Our Innovation arm includes Emblaze Mobile, a designer of advanced mobile devices; EMOZE, a provider of Push Email and synchronisation technology for mobile devices; and ZONE-IP (Emblaze V CON), a provider of wireless video communications technologies and conferencing solutions for operators and enterprise markets over IP networks.
The Emblaze Group is traded on the London Stock Exchange since 1996. www.Emblaze.com
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