Israel Active

International cybersecurity giant Symantec is acquiring Israeli cybersecurity company Fireglass for an estimated $250 million.  Fireglass was founded only in 2014 and its 40 employees have a cyber solution that eliminates ransomware, malware and phishing threats in real-time.

In 2016 Intel Israel procured NIS 5.76 billion of goods and services, 75% of it from small and medium-sized suppliers. Intel currently has 10,200 employees in Israel. It recycled 270,000 cubic meters of water in 2016 and reduced its production of greenhouse gases by 16,000 tons.

Of the 25 leading startups selected by "The Wall Street Journal," in its article "Tech companies to watch," six - almost one quarter - are Israeli. Furthermore, three of the four cybersecurity companies on the list are Israeli.

Israel Aerospace Industries (IAI) has launched a buying program for cybersecurity companies. It has invested millions of dollars in Holland’s Inpedio BV and Hungary’s Cytrox. Esti Peshin, general manager of IAI’s Cyber Division, said IAI is planning further cybersecurity acquisitions.

Israeli startup Colu’s digital wallet allows customers to pay local businesses instantly in a virtual currency (e.g. Liverpool local pound) from their smartphone. Starting with Tel Aviv, Haifa, London, Liverpool and Barbados, Colu has instigated a true “peer-to-peer” economy.

London’s City AM reports that strong digital growth in Tel Aviv is a benefit to the UK, and praises the UK-Israel Tech Hub created in 2011. The article notes that this model is “more important than ever as we leave the EU”.

Israel’s foreign currency reserves increased by $1.3 billion in June to an all-time-record of $108.706 billion.  The natural gas reserve fund increased to $11.39 billion.

I reported previously about the innovative 3D CT scanners from Israel’s Arineta. GE Healthcare has just given Arineta its first commercial order – for 12 scanners, to be sold to GE customers for $1 million each.

I reported previously about Israeli startup MySize whose SizeUp app measures your body for clothes with the sensors of your smartphone. Now the Israeli Postal Service and Mysize are to trial a pilot solution to measure all types of packages using only a smartphone.

I reported previously about Israel’s jFrog, which develops products for managing and distributing software. jFrog has just acquired CloudMunch in the US. CloudMunch’s Insights software allows developers to see how their DevOps flow is working, make adjustments or adopt new tools.