Carlos Slim in talks to invest in GSTAT

Big data analytics company GSTAT confirms that Carlos Slim is considering investing tens of millions of shekels in it.

Carlos Slim is in talks to invest in big data analytics developer GSTAT Software Solutions Ltd., following his investment in Mobli Ltd. GSTAT today confirmed reports that Slim was considering investing tens of millions of shekels in the company soon.

GSTAT VP sales and business development Ori Davidovich represented the company was part of President Shimon Peres's entourage during his visit to Mexico last week, and met with Carlos Slim and his son.

GSTAT was founded in 2001 by president Ephraim Goldin. It initially provided business intelligence (BI) solutions to Israeli telcos and financial companies. Three years ago, it launched a big data analytics product to break into the global BI market. Although the BI market is crowded, soaring demand for statistical analysis for marketing gave the company an opening.

Gstat established contact with Slim as part of the company's effort to enter the Latin American market, and a multimillion-dollar contract with mobile carrier Claro, a unit of Slim's of América Móvil SAB de CV (BMV; NYSE: AMX; Nasdaq: AMOV; BMAD: AMXL).

In the past couple of years, GSTAT has been seeking an investor to help it sell its product, and Slim could be a good solution. GSTAT will use the investment, if made, to fund its strategy to expand its solutions to Latin American telcos and financial companies.

Published by Globes [online], Israel business news - - on December 8, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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