ATX Networks Corp. acquired Arcos Technologies Ltd from Xenia Venture Capital Ltd (TASE: XENA), Rotal.com Ltd and other shareholders for $12.5 million on January 31, 2012. As a part of consideration, ATX Networks will pay $12.5 million of which $1.15 million will be in escrow for 18 months. It will also pay an additional $13.5 million from royalties on Arcos sales, over three years from the signing of the agreement, which includes $2.5 million in royalties from sales in 2012 of Arcos's current product and up to $11 million from royalties on sales of the company's new products from year 2012 to year 2014. In addition Chaim Mer, Chairman of C. Mer Industries, Parent of Rotal.com will also get a finders fee of 2% of the Arcos sale proceeds. Arcos Technologies will change its name to ATX Networks Israel. Yariv Reches and his team will continue to lead the daily operations of the Israeli-based location. Hanan Haviv of Herzog Fox Neeman acted as legal advisor for ATX Networks Corp. ATX Networks Corp. completed the acquisition of Arcos Technologies Ltd from Xenia Venture Capital Ltd (TASE: XENA), Rotal.com Ltd and other shareholders on January 31, 2012.