Business in Brief

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Matomy eyeing initial public offering or private placement

The digital advertising firm Matomy Media Group is looking to an initial public offering overseas or a private placement to fund its growth, the company's chief executive said yesterday. "There is a window of opportunity. I think in the next month or two we will have to decide where we are going and when," Chief Executive Ofer Druker told Reuters. Matomy, whose clients include American Express, AT&T and HSBC, helps advertisers market goods and services through its network of online publishers, earning a fee for every transaction completed through its platform. Druker declined to say how much the company would seek to raise, other than to say it would be a "meaningful" amount. (Reuters)

Milk prices likely to rise next month

Prices for raw milk used by dairies are likely to rise in October by about five agorot a liter, Rachel Borshik, chief economist for the Farmers Union, said yesterday. Under a new framework for controlled raw-milk prices established earlier this year, the price is scheduled to drop 1.7 agorot next month, but the increasing costs of agricultural imports, which also factor in the price, means that the price will actually rise. The result will be higher prices for dairy products on supermarket shelves, Borshik said, while adding that if the trend of lower prices for imported animal feed continues, the price of raw milk should be lowered in January. (Ora Coren and Adi Dovrat-Meseritz)

DiviNetworks wins $5 million in funding from World Bank unit

The cloud-based broadband solutions provider DiviNetworks won $5 million of investment from IFC, a member of the World Bank Group. The firm’s DiviCloud service increases Internet transmission capacities and frees up congested Internet connections for customers, most of whom are in sub-Saharan Africa, Latin America and South East Asia. “In today’s world, affordable and effective Internet access is increasingly important for economic development. DiViNetworks’ technology is offered as a monthly service, playing an important role in expanding broadband access in a simple and cost efficient manner," said Horacio Rivera-Piza, IFC Global Practice Leader for IT Services. DiViNetworks’ CEO Barak Avitbul said the proceeds would be used to finance growth in emerging economies. (Inbal Orpaz)

The blue and white cartons are 3%-fat milk made by Tnuva: Some is being recalled over accidental inclusion of soap.Credit: Dan Keinan