Israel Active

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.”  

For the 4th year, MasterCard is offering a $25,000 prize for an Israeli startup to help the international giant improve its electronic payments and financial services. The winner can also join the MasterCard Start Path global program, the company’s financial technology accelerator.  

Israeli bio giant Teva has purchased Mexico’s Representaciones e Investigaciones Médicas, S.A. de C.V. (Rimsa) for $2.3 billion. Teva expects the deal will yield substantial and achievable synergies and offer a platform for growth in the region.  

The Mexican government has purchased an advanced intelligence-gathering drone made by Israel’s Aeronautics. The Dominator XP is based on a DA-42 twin star commercial plane, and is designed to provide intelligence, surveillance, and reconnaissance flight missions.  

A new non-profit organization Start-up Nation Central has been launched to connect companies and countries to the people and technologies in Israel that can solve their most pressing challenges. Founded by US hedge fund billionaire Paul Singer with Dan Senor, co-author of “Startup Nation”.  

Tennessee Governor Bill Haslam has returned from taking an 18-person delegation to Israel. He said there already have been second and third connections since the business venture. Tennessee provides a low-cost location compared to New York, San Francisco and L.A.  

Hila Oren is CEO of Tel Aviv Global (TAG) a city-run company whose goal is to turn Tel Aviv into a global hot spot for innovation. Here are some of the key initiatives TAG has implemented to cultivate the ecosystem and encourage innovation to take root.  

Israel’s foreign currency reserves stood at a record $89.335 billion at the end of September 2015, an increase of $337 million from their level at the end of August.  

UK’s leading retailer John Lewis is to use the augmented reality software from Israel’s Cimagine to help customers visualize new ways to personalize and design their home. Cimagine is in use at UK’s online retail giant Shop Direct.