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BRIEF-Microsoft Israel Research and Development signs deal with Cloudyn Software
June 29, 2017 / 6:25 PM / 3 months ago

BRIEF-Microsoft Israel Research and Development signs deal with Cloudyn Software

June 29 (Reuters) - Elron Electronic Industries Ltd :

* Microsoft Israel Research and Development Ltd, signed definitive agreement with Cloudyn Software Ltd and shareholders

* Agreement for acquisition of outstanding share capital of Cloudyn, of which about 34% , is held by Elron’s 50.1% unit

* Out of transaction consideration, RDC-Rafael Development Corp will receive an amount of about $17 million - SEC filing

* Elron expects to record gain with respect to deal estimated at this stage at approximately $6 million - SEC filing Source text: (bit.ly/2slZvYb) Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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