What are the eight multi-billion dollar 'exits' by Israeli start-ups?
Last year, Israeli start-ups were sold for a whopping $23 billion in 112 deals.
By MAX SCHINDLERUpdated: MARCH 19, 2018 19:14Azrieli Center(photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)
With electronic parts manufacturer Orbotech getting bought up by KLA Tencor on Monday for $3.4 billion, Israeli start-ups continue to be sold for staggering sums.
Yet Orbotech's "exit" may only be the fifth largest in Israeli history.
1. For $15.3 billion, autonomous driving firm Mobileye was acquired by Intel in 2017. That's the largest "exit" ever by an Israeli start-up. As agreed, Mobileye's operations remain in Jerusalem.
2. For $5 billion, video software unit NDS was acquired by Cisco in 2012. (Cisco is now said to be seeking a buyer for the unit.)
3. For $4.7 billion, at the height of the hi-tech bubble, optics network company Chromatis was bought up by Lucent in 2000. (After the bubble burst in the following next year, Lucent laid-off all Chromatis' employees.)4. For $4.4 billion, social media gaming platform Playtika was bought by Giant Interactive in 2016.5. For $3.4 billion, Orbotech was acquired by KLA Tencor in 2018.
7. For $1.3 billion, Waze, the driving navigation app, was scooped up by Google in 2013.Waze, an Israeli mobile satellite navigation application, has revolutionized driving (Reuters)Advertisement
8. For $1.1 billion, NeuroDerm -- which develops pharmaceuticals for treating nervous system disorders -- was bought by Mitsubishi Tanabe in 2017.Last year, Israeli start-ups were sold for a whopping $23 billion in 112 deals, a 19% jump from the previous year, according to the IVC Research Center.Israeli entrepreneurs have come under criticism for sometimes opting to make a quick exit, as opposed to scaling the company locally and investing in long-term growth opportunities.
