ART-IN negotiating to sell e-commerce startup 4Sale to Matav Cable Systems
ART-IN Internet Technologies & Electronic Commerce
is negotiating to sell all of its holdings in e-commerce company
4Sale
(Hebrew site). The likely buyer is
(Nasdaq:MATV), which already holds 26% of 4Sale's stock, bought earlier for $2 million,
TheStreet Recommends
Ma'ariv
reports.
Matav has an option to acquire control of 4Sale.
ART-IN seems to be looking to focus on the technology sector. "The trend in ART-IN is to pull out of e-commerce and to focus on providing technology, whether through original developments or marketing without owning the commercial activity, says Gil Rosen, vice president for sales and business development for ART-IN.
ART-IN yesterday announced to TASE that it has become the Israeli representative of
(Nasdaq:AKAM), under an agreement allowing it to distribute the American company's products in Israel.
