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Novell Signs Strategic Agreement with Israel's Business Layers, Invests $2
Mln
From Israel's Business Arena - Globes
Content company Novell International has invested $2 million in Israeli
start-up Business Layers. Company value for capital-raising purposes was not
disclosed, but it is assessed at $25 million after money.
Novell is one of the world's leading content companies. As far as is known,
this is its first investment in an Israeli start-up, forming part of a
strategic agreement between the two companies. Under this agreement,
Novell's representatives will officiate in observer status on the Business
Layers Board of Directors.
Novell's investment in the Israeli company is a strategic one, designed to
offer business solutions related to its product, the e-Directory, designated
for Internet library management. Novell is seen as a leader in its field,
and one of Microsoft's rivals.
The agreement calls for Novell to offer the Business Layers product, namely
e-provisionware, to its customers, while the Israeli company will offer its
customers the Novell product, gratis.
Also, Business Layers and Novell will have joint displays at various
exhibitions, and will co-operate in an advertising campaign. The agreement
also provides for co-operation in business development ventures between
Business Layers and Novell and others companies, with which Novell has
agreements.
Business Layers, founded a year ago, develops advanced solutions for
business environments, based on Internet, intranet and extra-net technology.
Novell is a major supplier of software infrastructure to the Internet. The
company is listed on the NASDAQ at a market value of $11 billion.
Published by Israel's Business Arena January 16, 2000
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