RealTime IT News

Internet Gold, Microsoft Team Up to Create MSN Israel

Leading Israeli ISP Internet Gold Wednesday inked a deal with Microsoft Corp. to create a MSN Israel portal and Hebrew-language Web search service.

The two companies will form joint venture to run the portal site, with Internet Gold (IGLD) owning .2 percent more than Microsoft (MSFT) to hold the majority share of the company equity.

The portal is expected to be live by December.

Additional offerings include online discussion groups, business services and electronic shopping, and will be integrated with Internet Gold's network of portals.

"This step is part of our business plan to focus on content and e-commerce in preparation for the next millennium," said Eli Holtzman, Internet Gold's CEO.

Internet Gold boasts 14 POPs and provides approximately 95 percent of the Israeli population with dial-up Internet access. The company recently listed its initial public offering on the Nasdaq.