Israel Active

The 30th anniversary session of the U.S. - Israel Joint Economic Development Group in Washington also highlighted the 30th anniversary of the U.S.-Israel Free Trade Agreement - the first free trade agreement signed by the United States.  

CreditEase China, one of the biggest microcredit and wealth management firms in the world, has established the CreditEase Israel Innovation Fund (CEIIF), its first Israel-focused venture-capital/private equity fund. The fund has raised $30 million for investment in Israeli hi-tech.  

CyberArk is another Israeli firm growing by acquisition. Following its NASDAQ launch and purchase of Israel’s CyberIntel, it has now bought up Massachusetts-based Viewfinity for $30 million. Viewfinity will help CyberArk’s Privileged Account Security Solution to prevent cyber-attacks.  

Memory chip maker SanDisk, founded by Israel’s Eli Harari, has been sold to US hard disk manufacturer Western Digital for $19 billion. In 2014, Harari received the US National Medal of Technology and Innovation for revolutionizing the flash storage industry. SanDisk has 3 Israeli R&D centers.  

Microsoft is buying Israeli cyber security company Secure Islands for $100-150 million. It will be Microsoft's fifth Israeli acquisition this year and its 3rd Israeli cyber security company in the past 12 months.  

US firm Gilbarco has bought Israeli marketing intelligence company Odysii Technologies for $30 - 40 million. Odysii’s Impulse platform informs customers of the retailer’s in-house promotions at the Point of Sale - thus potentially generating more business.  

Japanese telecom conglomerate Softbank has invested $50 million in Israeli cybersecurity startup Cybereason. The firm’s software gathers usage data across a computer network to discover suspicious activity.  

I reported previously the discovery by Israeli company Afek of oil in the Golan Heights. Afek Oil and Gas chief geologist Dr. Yuval Bartov now says that the oil strata is 350 meters thick - over ten times the average discovery, and potentially billions of barrels.  

Israeli IT giant Mellanox has bought Israeli microprocessor manufacturer EZchip for around $811 million. The combined businesses currently have 2,400 employees, and generated combined revenue of $668 million for the year ended Jun 2015. Both firms are located in Yokneam near Haifa.  

Global bank Barclays is opening an accelerator in Tel Aviv for startups in financial-tech and cyber security. Barclays Derek White said “We’re excited about the prospect of tapping into Tel Aviv’s hot-bed of innovation, connecting some of the world’s most active innovators.”