Israeli-Japanese fund Defta bought the controlling interest in
, hi-tech information company Dolev & Abramovitch reported yesterday.
Last week ComGates reported a 30% staff cut.
In November 2000 ComGates took out a $6 million bridge loan from Defta and the Israeli venture capital fund Etgar (Challenge), ahead of its third financing round. The company hoped to raise $20 million at a company value exceeding $100 million.
ComGates was established in late 1998. It maintains a development center in Herzliya and sells through distributors in South Korea, China and Singapore. The company develops, designs, manufactures and markets next-generation communications infrastructure products.