Plenus Mezzanine will provide $2.5 million in mezzanine financing to converged content solutions providerLogia Content Development and Management Ltd.. Logia will use the proceeds to expand its international activities in the US, Europe, and India.
Logia provides cellular content to Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and works with video sharing site Heep, social networking site 8hands, Jukebox and Streetunes music sharing sites, and Internet service and application providers.
Plenus managing partner Yossi Riback said, "Cellular content is growing rapidly and is expected to continue to do so in the coming years. Logia is well positioned to break into international markets thanks to its impressive list of owners and the creativity and professionalism of its staff."
Logia founder and co-CEO Jacob (Kobi) Marenko said, "Plenus is an excellent partner and working with it will give the company a springboard to activity overseas."
Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2007
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