RealTime IT News

Today's Deals: DoubleClick and Netcreations Tie the Knot

DoubleClick + NetCreations, Gameplay.com plc + Pixel Broadband Studios, Gilat + ZapMe!, Teligent + Executive Conference











 Gilat (GILTF) to acquire 51% of ZapMe! (IZAP)

 

   *  Amount:         $50 million

 

   *  Terms:            n/a
 

   *  Premium:        n/a

 

   *  Industry:        Internet services

 

   *  Scorecard:      C-

 


    PETAH TIKVA, Israel , Oct. 3--Gilat Satellite Networks and ZapMe! announced an agreement under which Gilat will make a tender offer to acquire for cash 51% of ZapMe!'s approximately 44.3 million outstanding shares at $2.32 per share. ZapMe! currently provides an advertising-supported, free broadband Internet access network for schools nationwide, using a satellite-based network. With the announcement of the Gilat tender offer, ZapMe! plans to begin reducing its emphasis on the free service business model and will re-focus on a service-fee business model and new markets. The transaction is valued at approximately $50 million.

     

 

 Teligent acquires Executive Conference