Business in Brief

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IBM buys startup CSL for $10 million

IBM said yesterday it has reached an agreement to purchase CSL International, a Herzliya Pituah-based company that develops software for the virtualization of IBM mainframe systems. The purchase price wasn't disclosed, but it is thought to be in the range of $10 million. CSL was founded in 2004 by Sharon Chen, who serves as the company's CEO and employs a staff of eight. In 2007, the company began focusing its efforts on developing CSL-WAVE for managing virtual Linux servers in a z/VM operating system environment. IBM called the purchase a strategic investment in its core product basket. (Inbar Orpaz )

Somoto starts roadshow ahead of Tel Aviv IPO

Software developer Somoto has begun a road show for institutional investors ahead of a planned initial public offering on the Tel Aviv Stock Exchange. The company is only expected to release its prospectus later this week, for an offering at a pre-money valuation of NIS 120 million. Somoto, which develops tools and toolbar platforms aimed at software developers, was founded three years ago by Ben Garrun and Eyal Yaakov. Former Clal Finance CEO Shuki Abramowitz serves as chairman. Somoto will be only the second IPO on the TASE since the beginning of 2012, preceded by Kadimastem last month. The company will be a welcome addition for the stock exchange, which has been trying to attract more high-tech companies. The IPO will be led by Poalim IBI Underwriting. (Eran Azran )

Preliminary tender for NIS10b IDF base due shortly

A preliminary tender to finance, build and operate the Israel Defense Forces' new teleprocessing center in Be'er Sheva will be issued within the next few days, with the goal of attracting the interest of national and international information technology companies, according to Defense Ministry Director General Maj. Gen. (res. ) Ehud Shani. The center is one of four bases that will be moved to the Negev. The Defense Ministry estimates the cost of the center, to be located near Ben-Gurion University, at over NIS 10 billion. The move will bring 10,000 uniformed technology personnel to the south. The total cost of relocating the four bases over the next decade is estimated at NIS 25 billion. (Moti Bassok )

Carasso Motors taking stake in bus operator

Renault importer Carasso Motors is expanding into public transportation. The car importer said on Monday night that it has entered a preliminary agreement to buy half of the bus line operator Nateev Express from the Afifi family of Nazareth for an undisclosed sum. The bus company needs to come up with NIS 300 million to expand its fleet after winning a tender to operate routes in the Galilee, and Carasso is going to provide the money. The Afifi family is already partnered with Carasso in Renault and Nissan car showrooms. (Daniel Schmil )

Israeli airlines call for barring Turkish carriers

Israeli airlines yesterday called on the Civil Aviation Authority to ban their Turkish rivals from landing in Israel as long as Israeli carriers are barred from landing in Turkey. Israeli airlines can't fly to Turkey because authorities there refuse to accommodate Israeli security requirements. Meanwhile, Turkish airlines were recently granted approval to increase the number of flights to Israel over the summer. The Transportation Ministry replied that the CAA is still engaged in dialogue with Turkey over security arrangements and is bound by bilateral aviation agreements to provide Turkish airlines with operating permits. (Zohar Blumenkrantz )

Inside the Tel Aviv Stock Exchange. If you started feeling wealthy in 2013, restrain yourself, because 2013 was an extraordinary year, not an average one. Credit: Ariel Shalit

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