Shaul Elovitch
Encyclopedia
Shaul Elovitch is an Israeli businessman and the owner of Eurocom Group, one of the largest private holding groups
in Israel.
to Israel
when he was two years old. He grew up in Tel Aviv
and married at the age of 20. In 1968, shortly after completing his military service, he joined his father-in-law's small business of installing intercom
s and television antenna
s and importing telephones. For a time he studied law but did not complete the requirements for the degree, preferring instead to devote himself to his business pursuits.
's rise to power. In 1985, Elovitch acquired Eurocom.
Partnering with Tadiran
, Elovitch became the exclusive distributor in Israel of Panasonic
's line of office appliances, including telephones, fax machines, xerox machines, and printers, through Eurocom Marketing (1986) Ltd. Next, in 1993, Elovitch signed a distribution deal with Nokia
making him their exclusive distributor in Israel. A year later Cellcom
entered Israel's cellular network arena and became a client of Eurocom's Nokia phones, and together the two rivaled Pelephone
's Motorola-based dominance of Israel's mobile phone market.
through a company named Ofek, in 2009 it was reported that Shaul Elovitch was seriously contemplating the acquisition of either Bezeq or Partner Communications Company. Later that year it was announced that Elovitch had opted for a deal with the former. On 14 April 2010 the ownership of Bezeq was transferred from the Apax-Saban
-Arkin group to an indirect subsidiary of Eurocom, B Communications
.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
in Israel.
Background
Shaul Elovitch was born in 1949 in Poland and made aliyahAliyah
Aliyah is the immigration of Jews to the Land of Israel . It is a basic tenet of Zionist ideology. The opposite action, emigration from Israel, is referred to as yerida . The return to the Holy Land has been a Jewish aspiration since the Babylonian exile...
to Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
when he was two years old. He grew up in Tel Aviv
Tel Aviv
Tel Aviv , officially Tel Aviv-Yafo , is the second most populous city in Israel, with a population of 404,400 on a land area of . The city is located on the Israeli Mediterranean coastline in west-central Israel. It is the largest and most populous city in the metropolitan area of Gush Dan, with...
and married at the age of 20. In 1968, shortly after completing his military service, he joined his father-in-law's small business of installing intercom
Intercom
An intercom , talkback or doorphone is a stand-alone voice communications system for use within a building or small collection of buildings, functioning independently of the public telephone network. Intercoms are generally mounted permanently in buildings and vehicles...
s and television antenna
Television antenna
A television antenna, or TV aerial, is an antenna specifically designed for the reception of over the air broadcast television signals, which are transmitted at frequencies from about 41 to 250 MHz in the VHF band, and 470 to 960 MHz in the UHF band in different countries...
s and importing telephones. For a time he studied law but did not complete the requirements for the degree, preferring instead to devote himself to his business pursuits.
From R.A.P. to Eurocom
As manager of his father-in-law's company, R.A.P., the young Elovitch was also involved in the distribution of products by a telephone manufacturing company called Eurocom. Eurocom was established in 1979 to take the place of a telephone plant that had operated with Israeli partnership in Iran until Ayatolla KhomeiniRuhollah Khomeini
Grand Ayatollah Sayyed Ruhollah Musavi Khomeini was an Iranian religious leader and politician, and leader of the 1979 Iranian Revolution which saw the overthrow of Mohammad Reza Pahlavi, the Shah of Iran...
's rise to power. In 1985, Elovitch acquired Eurocom.
Partnering with Tadiran
Tadiran
Tadiran refers to a former Israeli conglomerate, which was founded in 1962 by the merger of two companies, Tadir and Ran...
, Elovitch became the exclusive distributor in Israel of Panasonic
Panasonic
Panasonic is an international brand name for Japanese electric products manufacturer Panasonic Corporation, which was formerly known as Matsushita Electric Industrial Co., Ltd...
's line of office appliances, including telephones, fax machines, xerox machines, and printers, through Eurocom Marketing (1986) Ltd. Next, in 1993, Elovitch signed a distribution deal with Nokia
Nokia
Nokia Corporation is a Finnish multinational communications corporation that is headquartered in Keilaniemi, Espoo, a city neighbouring Finland's capital Helsinki...
making him their exclusive distributor in Israel. A year later Cellcom
Cellcom
Cellcom may refer to:*Cellcom , a cellular service provider for Northeastern Wisconsin*Cellcom , a cellular service provider in Israel...
entered Israel's cellular network arena and became a client of Eurocom's Nokia phones, and together the two rivaled Pelephone
Pelephone
Pelephone is an Israeli-based telecommunications company, founded in 1986 as a joint venture between Motorola and Tadiran, today owned by Bezeq. It was the first company to offer mobile phone services in Israel. Due to this, the brand-name "Pelephone" became the genericized trademark for mobile...
's Motorola-based dominance of Israel's mobile phone market.
Bezeq acquisition
After various attempts to establish himself in Israel's communication sector since the late 1990s, including a failed move to compete with BezeqBezeq
Bezeq, the Israeli company for communications, is a telecommunications provider in Israel.Until the mid-first decade of the 21st century when it was owned by the Israeli government, Bezeq had a monopoly on landline telephony and Internet access infrastructure...
through a company named Ofek, in 2009 it was reported that Shaul Elovitch was seriously contemplating the acquisition of either Bezeq or Partner Communications Company. Later that year it was announced that Elovitch had opted for a deal with the former. On 14 April 2010 the ownership of Bezeq was transferred from the Apax-Saban
Haim Saban
Haim Saban is an Egyptian born Israeli-American television and media proprietor. With an estimated net worth of $3.5 billion, he is ranked by Forbes as the 104th richest person in America.-Biography:...
-Arkin group to an indirect subsidiary of Eurocom, B Communications
B Communications
B Communications is a publicly traded holding company, headquartered in Israel, whose sole asset is a controlling interest in Israeli telecommunications provider Bezeq. Its shares are traded on the NASDAQ Global Select Market and on the Tel Aviv Stock Exchange....
.