$2.1 billion exit for Imperva
Israeli-founded cybersecurity company Imperva is being acquired by US investment firm Thoma Bravo in a deal valued at approximately $2.1 billion. Imperva has 6,200 customers and 500 partners in more than 100 countries plus development centers in Tel Aviv and Rehovot.
Optimistic state of Israel’s economy
In his latest summary, Ambassador Yoram Ettinger highlights good financial ratings, median age of 30, 3.3% 2018 growth estimate, recent billion dollar exits and multinational investments. He also recommends this video publicizing Avi Jorisch’s great book “Thou Shalt Innovate”.
Europe Bank’s first Israeli equity investment
The European Investment Fund (EIF), part of the European Investment Bank, has made its first equity investment in Israel, injecting up to $20 million into a fund being set up by Israel Cleantech Ventures (ICV). The EIF expects another two Israeli investments shortly.
Engie moves up a gear
BNP Paribas is partnering with Israeli startup Engie. The European bank’s UK subsidiary Warranty Direct (WD) will issue Engie’s car maintenance device and app free to customers who buy WD’s extended warranty policies. Engie remotely detects car malfunctions and finds suitable mechanics.
Smart money management
Israeli fintech Pagaya has developed an Artificial Intelligent (AI) asset management system that finds new opportunities for Institutional investors to manage fixed income funds. Pagaya has just raised $14 million of funds to expand its 20-person team.
Save money in the Cloud
Israel’s Spotinst helps businesses to manage mission-critical systems across different cloud providers but retaining high performance and availability. Spotinst promises savings of 80% on average on regular cloud computing costs. Spotinst has just raised $35 million of funds.
Israel at the Paris Motor Show
I reported previously about Israel’s center role in the tech conference at the 120th Paris Motor Show (Oct 2 – 6). Here are more details, and a video.
Growing tech trade ties in the UK
Another rare positive BBC article about increased trade between Israel and the UK. The UK Israel Tech Hub is at the core of this expansion, involving more than 150 UK and 490 Israeli firms.
Israel’s financial system is stable
The Bank of Israel’s analysis of the environment in which the domestic financial system operates, and its level of robustness, states that “it remains stable. This has improved over the years, supported by the economic environment and the positive business cycle enjoyed by the Israeli economy.”
More multinational investment
Over the last 18 months, 16 multinational financial firms started operating in Israel, or increased previous business through strategic partnerships and investments. Newcomers include AXA SA, Bank of Montreal, Fosun, TD Bank, AmTrust, and Mastercard. The attraction? - Israeli technology. Plus two video reminders of the 4 multi-billion-dollar exits so far in 2018.