Israel Active

Israel’s Labor and Welfare Ministry reports that due to the high number of workers in education and technology, 47% of Israel’s employees can perform their jobs from home. Israel is second only to Luxembourg for telecommuting and far ahead of the OECD average of 38%.

Website construction tools company Wix.com has become Israel’s most valuable company. Its market value of nearly $20 million tops that of Check Point, Solar Edge, Novocure, Nice Systems and Teva. Wix earned almost $1 billion in revenue in 2020 and, due to expansion, it is still not making a profit!

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Israel’s Medi-Tate (reported previously) has been acquired by Japanese medical corporation Olympus for $300 million. Olympus invested in Medi-Tate in 2018 and has been distributing Medi-Tate’s solutions for Benign Prostatic Hyperplasia (BPH).

US medical devices maker Boston Scientific has bought the surgical business of Israel-based Lumenis (reported previously) from Barings PE Asia for $1.07 billion. The unit will remain in Israel and become Boston Scientific’s global center of excellence in laser technologies.

Israel’s Axonius (reported previously) gives organizations a comprehensive cybersecurity asset inventory, uncovers security solution coverage gaps, and automatically validates and enforces security policies. Axonius has just raised $100 million for a $1 billion valuation and “Unicorn” status.

Fintech startup Earnix develops artificial intelligence software that allows banks and insurers to personalize offerings to customers. It has just raised $75 million at a company valuation of $1 billion giving it the financial status of a “Unicorn”. Earnix has won recognition from both CB Insights and P&C 360.

Divine Flavor, a San Diego-based grower-owned distributor of fruits and vegetables and part of Grupo Alta, have adopted the new Xgo standing pouches from Israel’s StePac (reported previously). Customers were really happy with the extended freshness and sustainability of the packaging.

Israel’s Qualitest (reported previously) has just acquired India’s QA InfoTech India. InfoTech’s 1,000 employees will triple Qualitest’s existing offshore automation testing capacity.

Israel is in talks with Covid-19 vaccine developers Pfizer and Moderna regarding setting up vaccine production in Israel. Austria and Denmark have expressed interest in Israel’s plan to enhance Pfizer vaccines to handle virus mutations, as they do not want to rely on the EU’s vaccine strategy.