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SMT & Inspection | October 24, 2006

Fiber optics co Sagitta closes down

In recent weeks, the Israeli company Sagitta Ltd investors and management have been negotiating with a US company to buy its semiconductor activity for a few million dollars.

Fiber Optics which is a second business line will probably be closed down, Globes reports. The company has 50 employees and was founded in 1997. The company raised $30 million from strategic investors and venture capital funds, among these are Alice Ventures, Ascend Technology Ventures, Orbotech Ventures, Pitango Venture Capital, and Tamir Fishman Venture Capital. The president and CEO Ronen Zexer of the company has earlier served as Orbotech VP and president of its electronics division, Globes reports.
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