Shaul Elovitch

Shaul Elovitch (Hebrew: שאול אלוביץ'‎‎; born 1949, Poland) - a Polish-born Israeli businessman and the owner of Eurocom Group, one of the largest private holding groups in Israel.^[1]

Background

Shaul Elovitch was born in 1949 in Poland and made aliyah 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 intercoms and television antennas 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.^[2][3]

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 Khomeini's rise to power. In 1985, Elovitch acquired Eurocom.^[4]

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.^[5]

Bezeq acquisition

After various attempts to establish himself in Israel's communication sector since the late 1990s, including a failed move to compete with Bezeq 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.^[6][7][8] On 14 April 2010 the ownership of Bezeq was transferred from the Apax-Saban-Arkin group to an indirect subsidiary of Eurocom, B Communications.^[9]

Spacecom

Spacecom Satellite Communications Ltd. (TASE:SCC) was launched in 1993 and is the operator of Amos communication satellites in Israel.^[10] The company has a market cap of NIS 1,1 billion on the Tel Aviv Stock Exchange. In 2015, Spacecom lost contact with AMOS 5, their Russian-built satellite causing a loss of over one third of total company revenue.^[11] The company, owned by Eurocom and controlled by Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) has been on the market since 2013. Share prices in the group rose after Elovitch announced an offer from a foreign investor of $285 million.^[12]

References