VoIP pioneer VocalTec sells IP

Yitzhak Tshuva sold his entire stake in VoIP equipment maker Deltathree.

VoIP pioneer VocalTec Communications Ltd. (Nasdaq:VOCL) has sold intellectual property in the form of four patents and related rigths to Masinolli Fund LLC for $7 million. In a separate development, Yitzhak Tshuva has sold his entire 36% stake in VoIP equipment maker. Deltathree Inc. (Nasdaq: DDDC).

Both transactions may point to the troubled state of the companies.

Herzliya-based VocalTec held eleven patents, and sold three US and one Israeli patent. The sale must be approved by the Office of the Chief Scientist. Following the sale, VocalTec will receive a worldwide unlimited non-exclusive license to use the sold patents and their related rights for the development and marketing of its products. The company will keep several patents and trademarks, the “Internet Phone”.

VocalTec CEO Ido Gur said that the agreement with Masinolli Fund "demonstrates the value attributed to VocalTec’s technology and solutions." He added that the sale would enable the company to "increase product development, and expand sales and marketing efforts in line with our strategic objectives.”

Last week, Jerusalem-based Deltathree appointed Effi Baruch as interim president and CEO, replacing Dror Gonen. On Sunday, Thsuva's company Atarey Hasharon Development and Investment Co. Ltd. sold its stake at $0.03 per share, double its market price, for a total of $357,830, reflecting a company value of $986,000. The buyer is not known.

VocalTec's share closed at $0.21 yesterday, giving a market cap of $1.5 million. Deltathree's share closed at $0.015, giving a market cap of $493,000.

Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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