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IATI - Israel Advanced Technology Industries
IATI - Israel Advanced Technology Industries
IATI News & Events Daily Industry News Big tech scrambles for Israeli firms

Big tech scrambles for Israeli firms

Nov. 25, 2013

Technology companies are on a shopping spree in Israel, spending billions on ever larger deals and fueling the country's startup success story.

Google, Apple, Intel, IBM and Cisco have all been involved in a spate of high-profile acquisitions over the past two years, scouring the country for the next big thing.

Dealogic data shows a big increase in activity in the sector, with nearly $4 billion in acquisitions of registered Israeli tech firms since 2012. But given this figure only includes deals where a valuation is made public -- and most deals are kept private -- the overall tally is likely to be much higher.

Zack Weisfeld, an executive at Microsoft in Israel, estimates that about $13 billion in Israeli tech acquisitions have been done since the start of 2012.

"Over the last 18 months, the number of acquisitions has been staggering," he said.

Among the bigger deals, Facebook said last month it was buying Israeli start-up Onavo, reported to be worth as much as $200 million.

In June, Google acquired the popular social mapping firm Waze in a deal reported to be worth roughly $1 billion. Just two months later IBM announced the acquisition ofTrusteer, an Israel-based transaction fraud prevention company. The price tag was also reported to be as high as $1 billion.

For the full news story on CNNMoney click here.

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