Following failure in negociations for fund raising, VCon signs an agreement for the sale of its business and assets

19 octobre 2021 Pierre Perrin-Monlouis

Herzliya, Israel – August 17, 2005 – VCON ( Eurolist by Euronext Paris S.A. -ISIN CODE: IL 00 108 30540), today reports that following the failure in its previously announced fund raising negotiations, the company has determined that it can no longer independently pursue its current mode of operations, and has entered into an agreement for the sale of its business, activities and the majority of its assets to EmblazeVCON Ltd., a subsidiary of the Emblaze group. Emblaze is an Israel based company publicly traded on the London Stock Exchange (

According to the agreement, in consideration for (i) a cash payment in the amount of $1.6 million (€ 1.3 million),(ii) an extended credit line in the amount of $0.25 million (€ 0.2 million), and (iii) the assumption of certain liabilities of VCON, EmblazeVCON will take over VCON’s business including its customer base, workforce, technologies, intellectual property, inventory and other assets. EmblazeVCON will continue the development, maintenance and support of VCON’s installed base.

Following this transaction, VCON will only engage, under the given circumstances, in maximizing the repayments and satisfaction of its debts to its creditors and in dissolving the company. VCON estimates that none of the consideration will be allocated to its shareholders.

The closing of the transaction is subject to the approval of the General Meeting of VCON’s shareholders, the satisfactory completion of the due diligence process, the consent of VCON’s principal banks and creditors, the receipt of governmental approvals from the Office of the Chief Scientist and the Investment Center of the State of Israel and certain customary closing conditions set forth in the agreement between the parties.

For More Information (press only):

Company (International):
Jack Wakileh
VP Finance, VCON
+(972) 9 959-0032
[email protected]

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