Intel buys Envara for $40m

Envara develops and markets chip solutions for wireless local area networks (WLAN). The start-up, founded by entrepreneur Gideon Barak, has offices in Herzliya and California.

Intel (Nasdaq: INTC) has acquired Israeli company Envara for $40 million. Founded in March 2000 by entrepreneur Gideon Barak, Envara develops and markets chip solutions for wireless local area networks (WLAN). Envara has raised $38 million to date.

Venture capital industry sources said that Barak and his partner, Envara president and CEO Izik Kirshenbaum, had earned $1 million on the deal. The shareholders, who did not make a profit on the deal, did make back their investment through an exit at what they considered to be the right time.

Envara declined to respond before an official announcement is made. The company has 60 employees in its headquarters and development center in Herzliya and its California branch. In 1999, Barak sold wireless telecommunications company Butterfly to Texas Instruments (NYSE: TXN) for $50 million.

Published by Globes [online] - www.globes.co.il - on March 25, 2004

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters