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Optibase enters tender offer to buy more Scopus shares

Fri, 07/06/2007 - 7:11am
Traci Patterson

Optibase has begun a tender offer to purchase an aggregate of 678,000 ordinary shares of Scopus Video Networks for $5.25 per share, in cash, minus any required withholding taxes and without interest, Optibase said.

Optibase currently owns more than three million ordinary shares of Scopus, which represents about 22.5 percent of Scopus’ outstanding shares. If Optibase purchases the additional shares, it would own about 27.6 percent of Scopus.

The initial tender offer and withdrawal rights period is scheduled to expire at 5 p.m. EST on Aug. 6.

Optibase, an Israeli company, provides encoding, decoding, video server upload and streaming solutions. Scopus’ digital video networking solutions support digital TV, HDTV, live event coverage and content distribution.

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