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(Illustration) Photo: Shutterstock

Conduit to pay $300M dividend to investors, employees

Dividend will be distributed to company's employees, managers and investors, including Yozma fund and Benchmark Capital

Meir Orbach, Calcalist
Published: 03.25.12, 14:26 / Israel Business

The Rehovot-based high tech company Conduit is set to pay a $300 million dividend in the next few months to its employees, managers and investors, Calcalist learned.


Among the investors are the US VC fund Benchmark Capital and the Yozma VC fund, which is planning to sell part of its holdings in the company, retaining a 6% stake.


Calcalist revealed Saturday that the Yozma fund, led by veteran VC investor Yigal Erlich, is planning to sell a portion of its holdings to US secondary fund W Capital Partners for about $40 million.  Conduit is liekly to pay the dividend after Yozma sells its holdings.


Conduit's estimated annual revenue is $500 million and its estimated annual net profit is $25 million.


The company cooperates with search engines Google and Microsoft's Bing and earns its revenues from the search feature on its toolbars. Last September, Conduit distributed an estimated $300 million in dividends to its employees and investors.


Golan Hazani contributed to the report


Click here to read this article in Hebrew



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