Business in Brief

Suspected egg smuggler gets license revoked

Yossi Eggs, which controls about 8% of the local egg market, had its distribution license revoked by the Agriculture Ministry Wednesday after its owner, Yossi Amar, was arrested in August on suspicion of smuggling eggs from the Palestinian Authority. Amar, whose trial is still pending, faces charges that include transporting unstamped and undocumented eggs in contravention of Poultry Council regulations, illegally importing animal products and acting in ways that could cause the spread of disease. The ministry alleges that over an extended period of time Amar knowingly and misleadingly supplied the public with eggs that posed a health risk due to lack of veterinary supervision of their production and handling. Yossi Eggs distributes about 10 million eggs per month. (Ora Coren )

Treasury officials off to U.S Britain to meet investors

A Finance Ministry delegation, led by deputy Accountant-General Yaheli Rotenberg, is setting off next week on a road show to the U.S. and Britain to meet with potential investors and plug Israel government bonds. The delegation will also size up conditions for a possible bond issue abroad. The trip is within the framework of the ministry's annual work program and one of its aims is to ensure rapid and easy access to international markets over the coming year. The underwriters selected to shepherd the process are Goldman Sachs, Barclays and Citibank. The trip follows a similar visit to New York last month by a delegation headed by Accountant General Michal Abadi-Boiangiu. (Moti Bassok )

SintecMedia purchases StorerTV

The Israeli broadcast management system developer SintecMedia announced a deal on Wednesday to buy U.S.-based StorerTV for an undisclosed sum. StorerTV, with about 100 employees, provides television stations with software for managing programMing and scheduling. Founded in 2000 by CEO Amotz Yarden, SintecMedia currently has about 300 employees. While most are based in Jerusalem, the company also operates support centers in New York, Denver and London. Customers include networks like NBC Universal, CBC, ABC Canada, and Mexico's Televisa. The company said it expects revenues for 2013 to reach NIS 200 million. Riverhead Capital, the largest shareholder, has been increasing its stake in the company lately, spending $103 million overall. One purchase for 18.4% of SintecMedia shares was valued at $18.9 million. (Orr Hirschauge )

Panaya raises $16m in its fourth round of funding

Panaya, a provider of upgrade services for SAP and Oracle organizational management networks, said Tuesday that it raised $16 million in new capital. The investment round was led by the U.S. venture capital fund Battery Ventures and included Benchmark Capital and Hasso Plattner Ventures, all of which had participated in previous rounds which brought in a total of $23 million. The company, formed in 2006, said the new capital will go to expanding marketing. Panaya has already opened regional offices in the United States as well as in Germany and Japan. The company boasts 850 organizations as customers, including Qualcomm, Sony, General Electric, Proctor and Gamble, Walmart, and Bombardier. (Orr Hirschauge )

Dan Keinan