Optibase raises stake in Scopus Video Networks

Israel-based Optibase has acquired 10% stake in Scopus Video Networks for approximately $8.6 million, thereby raising its total stake to 37%.

Scopus develops, markets and supports digital video networking products that enable network operators to offer advanced video services to their subscribers. Optibase currently owns 3,725,223 ordinary shares of Scopus representing approximately 27% of Scopus' outstanding shares.

Tom Wyler, chairman and CEO at Optibase said: We intend to monitor Scopus' business, operating results and financial position and depending on market conditions and our continuing evaluation of the business and prospects of Scopus and other factors, we may acquire additional securities of Scopus. We have not made any definitive plans or reached any definitive conclusions as to any future actions.

In January 2007, Optibase purchased approximately 23% of Scopus' issued share capital from Koor Corporate Venture Capital and Koor Industries for approximately $16 million. Furthermore, in August 2007, Optibase purchased approximately 5% of the outstanding ordinary shares of Scopus Video Networks.

Source:ComputerWire daily updates

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