Herzliya-based intelligent video developer ioimage Ltd. has been acquired by iSOC (Intelligent Security Operations Center) developer DVTel Inc. for $80 million in shares. ioimage was founded in 2000 by its president Roni Kass, he has invested $20 million in ioimage together with his father Israel Kass, co-owner of Mayer Cars and Trucks Ltd..

ioimage develops algorithms that analyze pictures. Roni Kass said, "It's a great offer and the timing is right."

DVTel is a US company with major Israeli involvement. The company acquired Israeli start-up Omnivee for $6 million in 2005 and another small start-up details of which were not published. DVTel has 60 employees in its Herzliya offices, developing software and components for pictures that are supplied to the parent company. It is now likely that ioimage's activities will be merged with DVTel's Israeli activities.

Kass intends remaining active with ioimage and said, "I believe in DVTel's strategy. We need to move to a new level. Up until today our products were just one small element in the solution for securing cameras. Now we can become a more central element in the overall solution.

Kass added that the merging of DVTel and ioimage also makes geographic sense with ioimage strong in China and DVTel strong in the rest of the world.

Published by Globes [online], Israel business news - www.globes-online.com - on January 12, 2010

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