Israel’s 4G telecommunications company Alvarion Ltd. increased 70% in New York after daily Globes reported a Caesarea-based private equity firm Sigma Wave Ltd. may acquire the company.
Shares of Tel Aviv-based Alvarion soared the most since March 2000 to 38 cents at 2:47 p.m. in New York, extending a four-day rally to 105 percent. Trading volume was five times the average of the past 90 days. The stock climbed 78 percent in Israel, capping the biggest advance since July 2001.
Private-equity firm Sigma may acquire Alvarion through SuperCom Ltd. (SPCBF:US), an Israeli developer of electronic identity solutions, Globes reported yesterday, without saying where it obtained the information. Alon Fishman, an adviser at Sigma, confirmed the company is in negotiations to acquire Alvarion.
“It’s not final yet, but we are surely interested,” he said by phone from Tel Aviv. “We hope the process will end positively before the end of this month.” Source
Tags: Private Equity, Private Equity firm, Private Equity investment, Private Equity investor, Private Equity group, Private Equity Company, Israel Private Equity, Israel Private Equity, Alvarion Ltd., 4G Telecommunications Company, New York, NY, aesarea, Sigma Wave Ltd., Tel Aviv, SuperCom Ltd., . Alon Fishman, Sigma.