the reservations within his corn-
pany about purchasing NiceCom
stemmed from these results.
`There was concern that the fi-
nancial community would be
skeptical of (the purchase) be-
cause most high-tech Israeli com-
panies have not given substantial
financial rewards to their in-
vestors," he said.
"Israeli companies have dis-
tinguished themselves with great
technology, great products, good
people and so on, but not so much
by superior financial returns."
He said 3Com management
came to the conclusion that
"in the past, Israeli companies
which have not done well have
had insufficient critical mass
in the United States, particular-
ly in the area of marketing and
sales."
In this deal such a drawback
"simply would not apply, because
marketing and sales are exactly
what we bring to the equation.
So we felt that most probably the
financial community would look
at this in the same way they
would our other acquisitions."
Mr. Levin said the deal demon-
strates "a different direction that
the high-tech industry in Israel
can go."
Instead of the industry strug-
gling to match competitors in de-
veloping a critical mass of
marketing, sales and customer
support overseas, all of which
take a vast amount of capital out-
lay, he said, "this is another av-
enue: For high-tech Israeli
companies to be acquired by larg-
er companies from the U.S. or
elsewhere, and continue work in
Israel under the umbrella of a
larger American company.
"I think what 3Com is doing in
Israel is really a breakthrough.
They are not opening a design
center in Israel, they are opening
a complete business unit.
"It is a big change — particu-
larly relative to what Intel and
Motorola have done in Israel —
and a big step in the development
of the industry." ❑
p
1 .
(Please excuse
our dust...)
■
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MATT ULANOFF has been ap-
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