[June 27, 2007] Maayan Ventures buys 25% of Capital Point Tweet (Israel Business Arena Via Thomson Dialog NewsEdge) Maayan Ventures Ltd. (TASE:MAYN) has acquired 24.9% of Capital Point Ltd. (TASE:CPTP), which owns Meytag Technology Incubator in Katzrin on the Golan Heights and the Ofakim Hi-Tech Ventures Ltd. in the Negev, in an off-floor deal. Maayan owns Amshav technology Innovation Center in Sde Boker, Rotem Ventures Ltd. (formerly ATC) in Dimona, and the Maayan Incubator in Beersheva. Maayan Ventures bought the Capital Point shares from five private parties at a premium of 15.9% over the company's market price. Maayan Ventures plans to make an offer to purchase for the rest Capital Point's shares and delist the company. If the offer succeeds, Maayan Ventures will own almost all of the technology incubators in the south, with only Xenia Capital Venture Ltd. (TASE:XENA) in Kiryat Gat outside its control. Maayan Ventures will be able to make seed investments is dozens of incubator start-ups. The state participates in 80% of financing for these start-ups, and the loan is repaid only if the start-up makes a return on its first investment. Maayan Ventures' future expansion plans are not known at this time. Today's acquisition did not require approval of the Technology Incubators Program because it acquired a stake in an incubator parent company, not direct ownership of an incubator. Since going public a year ago, Maayan Ventures has acquired two incubators and a stake in TechnoPlus Ventures Ltd. (TASE:TNPV), held a $15.8 million private placement and raised NIS 60 million in bonds and warrants. It also floated Applisonix Ltd. (TASE:APLS). Published by Globes [online], Israel business news - www.globes.co.il - on June 27, 2007 Copyright of Globes Publisher Itonut (1983) Ltd. 2007 Copyright 2007 Globes, Source: The Financial Times Limited [ Back To TMCnet.com's Homepage ]