Growing nicely
Moody's Investors Service reported that Israel's resilient growth model, effective governance and steadily improving debt metrics underpin its A1 government bond rating and stable outlook.
Israelis to drill for North Sea oil
Israel’s Delek Group is to become the biggest shareholder in UK North Sea oil and gas firm Ithaca Energy following a £43million investment. Ithaca is currently focused on the construction of a new production hub in the Greater Stella area of the central North Sea.
30 years of US-Israeli free trade
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.
New Chinese fund for Israeli investments
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 makes US purchase
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.
SanDisk sold for $19 billion
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 buys another Israeli cybersecurity firm
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.
Marketing intelligence is worth millions
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.
$50 million funding for Cybereason
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.
Golan Heights oil discovery is huge
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.