Fox Paine CEO Saul Fox: The flotation will be at a value of $500 million.
''Globes'' has learned that Paradigm Geophysical BV, acquired by Fox Paine and Company LLC in 2002, is likely to soon become a public company again.
Fox Paine CEO Saul Fox, who is currently visiting Israel, said a flotation would be at a company value of $500 million. “We get proposals for flotations all the time,” he said, “but this time, the quality of those contacting us has led to consider it very seriously.”
Paine Fox acquired Paradigm Geophysical, which developed 3D underground imaging software, for $100 million. Floating the company at a value of $500 million means a phenomenal 400% return on investment within four years. According to figures disclosed by Fox, Paradigm Geophysical posted $95 million revenue in 2005, and is expected to reach $130 million in sales in 2006. The company had $75 million in sales in 2002, when it was acquired.
Published by Globes [online], Israel business news - www.globes.co.il - on May 25, 2006
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