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CHINA’S YIFANG DIGITAL BUYS PEGASUS TECHNOLOGIES

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Tuesday, March 9th, 2010

As reported in Invest In Israel, China’s Yifang Digital, one of the world’s leading consumer elect

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ronics manufacturers, purchased Pegasus Technologies for about $60 million.

Pegasus, founded in 1991, develops handwriting input devices for entry in personal computers, Personal Digital Assistants (PDAs), cellular phones and other office equipment.

Pegasus will maintain its plant in Israel as part of Yifang International and will continue as the center for the development of the digital pen and its solutions.

Yifang Digital, founded in 1992, has facilities in Hong Kong and Shenzhen, China.

Chinese companies have shown an increasing interest in Israel since Hong Kong- based Johnson Electric purchased 51% of Israel’s Nanomotion in 2004. In January, Yang Mianmian, the president of Haier Group, China’s largest home appliance brand and one of the world’s leading white goods home appliance manufacturers, visited Israel.