Gat is a veteran of the Israeli technology industry. He was one of the founders of Gilat Satellite Networks and a serial entrepreneur for several successful high-tech companies, including Stickspay and Reissat. Thanks to his work and contribution to the industry-wide, double winepress was awarded the Israel Security Prize
SatixFy, a developer and manufacturer of satellite communications chips, has announced the death of the company’s founder and CEO, Yoel Gat. Gat passed away last Friday, April 8th.
Gat is a veteran of the Israeli technology industry. He was one of the founders of Gilat Satellite Networks and a serial entrepreneur for several successful high-tech companies, including Stickspay and Reissat. Thanks to his work and contribution to the industry-wide, double winepress was awarded the Israel Defense Prize.
“With great sorrow we announce the passing of Joel, a man of profound vision and driving force behind the establishment and success of Stiksfii”, said Yoav Leibowitz, co-chairman and CFO of Stiksfii Scmnc”l. Joel was a partner for over thirty years, and I will miss him a personal friend and partner in the professional and business. Joel was a true entrepreneur, he founded and raised new companies, technologies and markets. We will continue to fulfill its vision Bstiksfii and will lead the company to the next level prosperity and growth. We send our sincere condolences to his wife Simone, their children, and their families. Our thoughts and prayers with them during this sorrow. “
Stickspay began a process of change at the managerial level several months ago, announcing the entry of a new CEO on June 26, 2022. The company said it is expected to announce the identity of the new CEO within a few weeks, once its commitment to his current position ends. Until he takes office, Leibowitz will serve as interim CEO.
“Yoel Gat was one of the world’s greatest experts in satellite communications, but also a manager of supreme grace,” says Yoav Leibowitz, CFO and chairman of Stickspay and now also interim CEO of the company following Gat’s death last Friday.
Leibowitz and Gat worked together in the companies he founded – Gilat, Reissat and now Stickspay for over thirty years. “” I defined it as one in a billion. One of the most talented people on earth. He had a multi-disciplinary integrated in all areas simultaneously. He was an engineer of supreme grace but also understood business, understood what happens in spreadsheets to the last number. “
“He was a combination of an engineer, a financier and a businessman with outstanding interpersonal ability. He knew how to talk to everyone – from the youngest employee to the manager of the largest company in the world and how to get the best out of the person. A brave man, nothing scares him. All the time on the windowsill, taking risks if necessary, knowing that the difference between success and failure is like a hair’s breadth and for him it is like a spider’s web. “
“He has the perfect entrepreneurial ability in the sense that he knows how to predict where the markets he knows will move and direct a technological solution that will meet the market in the right place and at the right time and demand for the product and be priced according to its uniqueness as happens today. .
Merge toSPAC At $ 632 million
About two months ago, Stickspay announced its intention to go public through a merger with SPAC, which is traded on the NASDAQ under the symbol EDNC, at a company value of about $ 632 million. As part of the merger, Stickspay is expected to raise approximately $ 230 million, of which approximately $ 201 million from the Endurance Fund and an additional $ 29 million from institutional investors through a private placement.
“He had a charisma that allowed him to raise a lot of money over the years and make investors a return on money. The combination of understanding the human psyche along with the ability to succeed made him a success machine of many products and many ideas, understanding how to produce, understanding .
“He twice received the Israel Security Award and lit the beacon of the high-tech industry at the time. He has abilities he achieved in huge operations that changed Israel’s security in his military service and in the companies he founded and managed, Who kept a secret, a man of many deeds and of many verbs. “
“Gat’s connection with space began in the army. He studied electronics engineering at the Technion and engaged in satellite communications. If anyone won the Israel Security Award, he did things in the field of satellites that changed the way the IDF fought for many years.” Leibowitz explains.
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