Scopus to acquire Optibase
August 7, 2008
The acquisition of Optibase’s digital video and streaming business for 2.6 million Scopus shares amounts to 19 per cent of its share capital. The deal increases Optibase’s stake in Scopus from 36.6 per cent to 46 per cent.
The companies did not disclose the price of the deal, put on the basis of Scopus’ current share price, it amounts to $11.9 million. Scopus may issue to Optibase up to additional 900,000 shares, which will boost Optibase’s stake in Scopus to 49 per cent. Optibase fell 8.1 per cent on Nasdaq to $1.58 on Monday's announcement, giving a market cap of $21 million, while Scopus rose 3.1 per cent to $4.70, giving a market cap of $65 million