i2 Creates Israeli Subsidiary
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TEL AVIV -- Supply chain management and e-Business supplier i2 Technologies has launched a local subsidiary to serve the Israeli market, the company announced on Sunday. i2 has made its presence felt globally, recording revenues of $1.1 billion in 2000 on a growth rate of 90 percent. The company currently serves 1,000 customers worldwide.
The decision to open an Israeli subsidiary was based on the unique business conditions that exist here, the company said.
"Israel has very complex supply chains, they import raw material, add value and then ship it out. There is a lot of opportunity for us to add value there," Daniel Keelan, managing director of Europe, Middle East and Africa told the Jerusalem Post.
I2 now employs 9 workers in Israel, and plans to expand to 15 during 2001.
The company plans to initially sell their software packages to small-to-medium sized businesses to enable their participation in local and foreign e-marketplaces, the company management said.