![]() ![]() Aladdin's shareholders agreed on the merger in February 2009 at $11.50 per share, in cash. Vector initially offered $14.50 per share, but Aladdin's founder Margalit refused the offer arguing that the company was worth more. In mid-2008, Vector Capital was attempting to purchase Aladdin. By 2007 the company's annual revenues reached over $105 million. In 2004 the company's shares were also listed on the Tel Aviv Stock Exchange. The same year that company had an initial public offering on NASDAQ raising $7,900,000. The digital rights management product became a success and by 1993 generated sales of $4,000,000. Margalit raised just $10,000 as an initial capital for the company. In its early years the company developed two product lines, an artificial intelligence package (which was dropped early on) and a hardware product to prevent unauthorized software copying, similar to digital rights management. Aladdin Knowledge Systems was founded in 1985 by Jacob (Yanki) Margalit, when he was 23 years old he was soon joined by his brother Dany Margalit, who took the responsibility for product development at the age of 18, while at the same time completing a Mathematics and Computer Science degree at Tel Aviv University.
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