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The leading communications service provider Cellcom Israel Ltd has announced a binding MOU to purchase Golan Telecom for $172 million. As per agreed terms, Cellcom would pay the amount in two installments of about $100 million on completion of the transaction and $72 million within 3 years after completion of deal.

Golan Telecom provides quality cellular services across Israel with generation 2, 3, and 4 / LTE technologies. The company is working with Cellcom to expand its network deployment for better communication. Golan Telecom is a low cost company in the mobile market, serving approximately 900,000 subscribers.

In May 2019, Cellcom Israel Ltd. announced a collaboration agreement with world’s leading internet entertainment provider Netflix International B.V., for the distribution of Netflix’s services in Israel, including through direct access to the Netflix services from the Cellcom TV platform.

 About Cellcom Israel

Israel’s leading communications group Cellcom Israel Ltd, was formed in 1994. It is a largest Israeli cellular provider, it has approximately 3 million cellular subscribers in country. The company has a broad range of services including cellular telephony, text and multimedia messaging, advanced cellular content and data services and other value-added services in the areas of video, music, mobile office etc.

Cellcom Israel operates an LTE 4 generation network and an HSPA 3.5 Generation network enabling advanced high speed broadband multimedia services, in addition to GSM/GPRS/EDGE networks. The company also provides OTT TV services, internet infrastructure and connectivity services.

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