SintecMedias acquistion of Pilat Media

16 January 2014

SintecMedias acquistion of Pilat Media

Today SintecMedia announced a deal for the potential acquisition of Pilat Media. The larger shareholders of Pilat Media have agreed to the acquisition and subsequently the board of Pilat Media recommended the deal to all shareholders. The acquisition is subject to various approvals, including from Pilat Media shareholders (other than SintecMedia) and the process will still take several weeks. It is being structured as a Scheme of Arrangement under UK law and requires Court approval.

The paragraphs below were included in the formal announcement that was published by Pilat Media and sintecmedia today.

You can also review the announcement via the the following links to the London Stock Exchange and the Israeli Stock Exchange.

The management of SintecMedia and Pilat Media have together agreed the approach for organising and managing the Enlarged Group harmoniously, leveraging the relative strengths of each organisation. SintecMedia attaches great importance to the skills, experience and knowledge of the existing employees of the Pilat Media group, who have contributed to the success of the business to date and believes that they will benefit from enhanced career and business opportunities within the Enlarged Group. SintecMedias strategic plan for the Pilat Media business is to gradually integrate certain functions where appropriate to realise synergy and economies of scale but as both companies face growing demand for their products and services this is unlikely to affect the vast majority of positions and staff across the two companies. In conducting any rationalisation SintecMedia intends that the employees of the Pilat Media and SintecMedia will have equal opportunity SintecMedia considers that its strategic plans for the Pilat Media group will have no repercussions on the customers of the two groups and any product convergence initiatives will be evolutionary, with an emphasis on backward compatibility. By utilising both parties products and human capital, the Enlarged Group will be able to strengthen its offering to the market, satisfy existing clients, win new business and overcome future challenges more effectively.

We all hope that by NAB 2014 event we will be able to present the enlarged SintecMedia group.

Amotz Yarden CEO | SintecMedia

Announcement of a potential acquisition of Pilat Media Global plc by SintecMedia.

In relation to the proposed acquisition of Pilat Media Global plc by SintecMedia Ltd. and its wholly owned subsidiary Sintec Media Software Ltd., the following documents are displayed pursuant to rule 30.4 of the UK City Code on Takeovers and Mergers (Code):

(a) the announcement released by Pilat Media Global plc, SintecMedia Ltd. and Sintec Media Software Ltd.on 16 January 2014 pursuant to rule 2.7 of the Code (see Announcement);

(b) the following irrevocable undertakings referred to in paragraph 5 of the Announcement:

Michael Rosenberg

Avi Engel

Martin Blair

Samuel Sattath

Or Elovitch

Alex Rabinovitch

Eurocom Investments LP

Eurocom Holdings (1979) Ltd

Michael Zuckerman

Benjamin Moneta

Ronnie Erlichman

(c) the confidentiality agreement referred to in paragraph 17 of the Announcement

LINK:	http://www.sintecmedia.com/Pilat-Acquisition-Offer.html...
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