On Friday, iPoint Media Ltd. issued a profit warning for the first half of 2010, and it is getting close to the point where its auditor will append a going concern warning to the company’s financial report. iPoint added that, after conducting a strategic review, it will concentrate the company’s resources in pursuing opportunities in the media market, given the difficulties experienced in the telecommunications market. Therefore, while it will continue the strategic partnership with Ericsson AB, it will be focusing on expanding sales of its new GOliveINTERVIEW and GOliveSTUDIO products to the media market in China. GOliveStudio is a Web/mobile TV production tool that provides new media connectivity and Internet content repurposing at a fraction of the cost of hardware-based solutions. GOliveInterview enables broadcasters to conduct a live interview with a reporter equipped with no more than a standard computer laptop, camera, and iPoint-media reporter software. http://www.globes.co.il/serveen/globes/docview.asp?did=1000568393&fid=1725
Entertainment News
iPoint Media issues profit warning
Monday, June 21st, 2010888 buys social games company Mytopia
Tuesday, June 15th, 2010888 Holding plc has acquired the Mytopia social games development studio from Real Dice Inc. for $18 million. Real Dice CEO Guy Ben-Artzi (30) is a nephew of Prime Minister Benjamin Netanyahu’s wife, Sarah. 888 will pay $12 million in cash when the deal is closed, and will make $6 million in additional cash milestone payments through the end of 2011. Additional payments up to up to $30 million will be subject to Mytopia’s profits through 2011, capping the deal at $48 million. Mytopia develops cross-platform social games, such as bingo and poker, for smartphones, mobile handsets and social networking platforms including Facebook. The applications can be used on for iPhone, Android, BlackBerry, Windows Mobile and J2ME handsets. According to 888, Mytopia’s poker game has been installed on more than one million handset globally, and its Bingo Island 2 is one of the top bingo applications on Facebook. http://www.globes.co.il/serveen/globes/docview.asp?did=1000566818&fid=1725
The Israel Conference Announces Featured Speakers from Oracle, SanDisk, Microsoft, Marvell, and Google
Tuesday, June 1st, 2010LOS ANGELES – (BUSINESS WIRE) – The premiere business conference for Israel-facing companies will bring top-tier executives together on Thursday, June 3, 2010 in Los Angeles. Featured speakers include Oracle’s president, SanDisk’s chairman, Google Israel’s head of R&D, Microsoft Israel’s head of R&D, and Marvell’s co-founder, among other chief executives who will be speaking throughout the day. The Israel Conference brings companies that do significant business in Israel together to increase business and investment opportunities between Israel and the United States. Registration is going strong at www.TheIsraelConference.org. Attendees can see the courting of companies in action,” said Sharona Justman, managing director of STEP Strategy Advisors, an acquisitions advisory and strategic planning firm with offices in Israel and California, and co-chair of The Israel Conference . http://newsblaze.com/story/2010051106432900002.bw/topstory.html and http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100511005770&newsLang=en
