TEL AVIV – Jan 25, 2010 – A senior delegation of bankers from Wells Fargo's headquarters in Charlotte and Head of International M&A out of London are in Israel for 3 day visit.  Avalon Capital is hosting this visit and the delegation will be meeting with companies in the sectors of financial technology software, defense, and healthcare, to name a few. 

"With consolidation in the banking industry, we decided to approach a bank that was seeking to expand it global footprint" said Joseph Sabet, Managing Director at Avalon Capital.  Wells Fargo has established global relationships with regional banks and M&A boutiques worldwide and has appointed Avalon Capital as its partner in Israel.  Wells Fargo is the 3rd largest US bank (by market cap), the #2 in retail brokerage house in the US, and the #2 in the number of IPO's in 2009. 

Whereas Avalon Capital had previously been active with advising Israeli companies with their IPO on London's AIM, it will now focus on expanding its activities in North America.  "Our relationship with Wells Fargo is the first of several new activities we intend to announce in 2010" said Sabet.  Avalon remains active in the UK despite the markets fall.  In 2009, Avalon sold Dekolink, a Koor company in the indoor wireless access market, to the UK based Axell Wireless.  With most venture funds reaching the end of their life, Avalon expects many similar exits in the next 9-24 months.  "While the pendulum had been swinging towards the private equity buyers, we would expect a move towards equilibrium as strategic players become more aggressive once growth resumes and earnings improve".  Avalon also expects the Nasdaq to become receptive to Israeli IPO's in the 2nd half of 2010.  According to Sabet, "Wells Fargo has a very strong capital markets team and will be pursuing IPO opportunities from the Israeli market"