Lipman Electronic Engineering (the maker of the popular NURIT POS terminals) has entered into an agreement with ECI Telecom Ltd., to consolidate the transaction activities of the two companies.
ECI Telecom will receive 16% of Lipman shares, in exchange for ECI Telecom's transaction transmission business, located primarily in Calabassas, California. The agreement also gives two seats out of a total of eight seats on Lipman's Board of Directors as well as an option for ECI Telecom to purchase up to 8.9% additional shares from Lipman.
Aharon Lipman, President of Lipman, said, "This agreement presents Lipman with an opportunity to offer customers a more complete and comprehensive solution in the transaction area, and widens our global support channels around the world."
Lipman's corporate headquarters are based in Israel with subsidiaries and local offices in the USA, CIS, Turkey, Spain, and China. For additional information access http:\\www.lipman.co.il.
