I.I.S. INTELLIGENT INFORMATION SYSTEMS LIMITED
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I.I.S. Intelligent Information Systems Limited is an Israel-based publicly quoted company engaged in the design, development, manufacture, marketing, leasing and maintenance of data communication, networking and intelligent peripheral computer products targeted at the International Business Machines (IBM) mid-range, IBM mainframe and open systems computing environments. The company was incorporated in the year 1980. It has its registered office address in Ramat Gan, Israel.
I.I.S. owns a 39% interest in StoreAge Networking Technologies, Ltd, a leader in Storage Virtualization technology and the developer of SVMT, the world’s first asymmetric storage virtualization management solution. The company also owns a 25% of Enargis Storage Solution Ltd. (Enargis), which designs, develops and provides enterprise storage solutions for the Internet small-computer systems interface (iSCSI), and owns 38.9% (approximately 30% on a fully diluted basis) of StoreAge Networking Technologies Ltd. (StoreAge), which is engaged in Storage Virtualization Management technology that develops and provides storage-networking solutions to the enterprise market with a focus on storage area network (SAN) architecture. In connection with the voluntary liquidation, I.I.S. also intends to seek no-action relief from the United States Securities and Exchange Commission.
In an attempt to overcome years of losses, the company restructured its operations with a string of divestitures. I.I.S. sold its interests in networking and connectivity equipment manufacturer NetWiz, peripherals and storage products maker Decision Data, and networking and systems integration specialist Adanet Communications. The company’s only remaining assets are minority holdings in StoreAge Network Technologies and Enargis Storage Solutions. The company has announced plans to liquidate those holdings and return the proceeds to shareholders.
The principal activities of the Group are the design, manufacture, development, marketing, leasing and maintenance of data communication, networking and intelligent peripheral computer equipment. In late 1998, the Company implemented a restructuring plan which resulted in the disposition of most of the assets of the Company, substantial changes in the Company’s structure and a focus exclusively on SAN.
Description and history
The principal activities of the Group are the design, manufacture, development, marketing, leasing and maintenance of data communication, networking and intelligent peripheral computer equipment. In late 1998, the Company implemented a restructuring plan which resulted in the disposition of most of the assets of the Company, substantial changes in the Company’s structure and a focus exclusively on SAN. In January 1999, StoreAge Networking Technologies Ltd, an Israeli company, (StoreAge) was organized as a wholly owned subsidiary of IIS and commenced development and marketing of products based on its SAN Virtualization technology.
As of December 31,2003 the Company is no longer engaged in any operational business activity.
I.I.S. Intelligent Information Systems Ltd announced on July 29, 2004 that the general meeting of shareholders duly convened and held approved, by a majority of approximately 96% of the shareholders present and voting at the meeting, the voluntary liquidation of the Company, the appointment of Messrs. Robi Hartman and Aharon Jacobowitz as the joint liquidators of the Company and the fees, compensation, reimbursement of expenses, indemnification and release of the liquidators as set out in the Proxy Statement of the Company dated June 30, 2004.
The Company has notified its U.S. transfer agent and the OTC Bulletin Board that, in accordance with Israeli law, effective as of the close of business that day, the share transfer register of the Company will be officially closed and no transfers of the Company’s shares will be allowed without the express written consent of Robi Hartman and Aharon Jacobowitz, as liquidators of the Company. Transfers of shares to reflect normal settlement of market trades made prior to the close of business will, however, be permitted.
Engaged in the design, development, manufacture, marketing, leasing and maintenance of data communication, networking and intelligent peripheral computer products
WITECH COMMUNICATIONS LTD
KOST FORER & GABBAY
US SIC Code
Twins One Building
33, Jabotinsky Street
City province or state postal code
52511, RAMAT GAN
Phone: +972 3 751 0007
Fax: +972 3 575 0595
Country address: ISRAEL
Website url: www.iislf.com