"It's not worth it for a company our size to be public": The entrepreneur selling the business she founded 30 years ago
Monica Yanko is selling Mind CTI, the company she founded 30 years ago, to a Canadian firm for $25.4 million. She says the high costs of being a public company are not worthwhile for a company of its size.
Monica Yanko, founder and chairwoman of Mind CTI, is selling the company she founded 30 years ago to the Canadian company Enghouse Systems for $25.4 million. Mind, a provider of billing and customer service solutions for telecom companies, was listed on Nasdaq in 2000 and employs about 140 people, 22 of them in Israel. The share price in the deal is $1.3, a 49% premium over the market price before the announcement. Yanko, who holds 15.5% of the shares (about $4 million), has committed to supporting the sale. According to her, the high costs and bureaucracy involved in being a public company are not worthwhile for a company of its size, and she does not recommend an IPO for similar companies. The buyer plans to retain the team in Yokneam and create synergies with portfolio companies.