IXI Mobile Merges With Israel Technology Acquisition Corp. (ITAC)
Via RCR Wireless News.
Ogo device vendor IXI Mobile Inc. said it is merging with Israel Technology Acquisition Corporation, the firms announced. IXI Mobile is expected to become a wholly owned subsidiary of ITAC when the deal closes, which is expected in the third quarter of this year.More here.
IXI Mobile, headquartered in Redwood City, Calif., is privately held and has research and development facilities in Israel and Romania. The company sells the Ogo family of wireless devices that support instant messaging, e-mail and text messaging features, but no voice capabilities. Publicly traded ITAC, which is focused on acquisitions of Israel-based research and development firms, plans to change its name to IXI Mobile when the merger is consummated.