March 3, 2015 | Teva Pharmaceutical Industries announced that it signed an agreement to sell its Sellersville, Pennsylvania facilities to G&W Laboratories. The sale is part of Teva’s plan to streamline operations by cutting down on manufacturing costs. The sale will include all of the company’s buildings, land and equipment on site, and according to the terms of the agreement G&W will continue to manufacture and supply supplies to Teva, according to its needs. According to the deal, Teva will also sell about 25 portfolio products to G&W, which will be manufactured and sold in the US under the G&W label. Teva Pharmaceutical Industries was founded in 1901 and is headed by CEO and President Erez Vigodman.
News Briefs
March 03, 2015
Teva Sells Pennsylvania Plant To G&W
March 03, 2015
Infocomm Considers Investments In Israeli Companies
March 3, 2015 | Infocomm Investments, part of the Infocomm Development Authority of Singapore, is planning to make its first direct investments in Israel high tech companies. The fund, worth about $200 million is backed by the government of Singapore, hopes to invest in Israel high tech solutions that will bring the country’s IT services and systems to the next level. Though specific companies weren’t outlined in the Reuters report, the fund will invest between $1-$5 million in Israeli companies. The fund is focusing on cyber security companies and financial tech companies, including Colu and Neema.
March 02, 2015
OHT-Mobile Releases Lingui Instant App Localization Solution
March 2, 2015 | One Hour Translation (OHT) Mobile has launched a new platform called Lingui, which works as an instant app localization solution. It allows users and businesses to quickly translate their applications into other languages, without needing to hire extra manpower or to create additional versions of the application. Lingui engages in automatic translation, professional-level translation and “crowdsourced” translation to create a version of the app in the selected language, updating the app in real time as the translations come in. The Lingui platform will be showcased by OHT-Mobile at the Mobile World Conference in Barcelona this week. One Hour Translation was founded in 2008 by Lior Libman, Yaron Kaufman, Oren Yagev and Ofer Shoshan.
March 02, 2015
Outbrain, Le Monde Sign Exclusivity Agreement
March 2, 2015 | The Israeli content recommendation company Outbrain announced that it has signed an exclusive multi-year agreement with the French publication company Le Monde. According to the agreement, Le Monde will utilize Outbrain’s content recommendation services, with Outbrain promising to meet content guidelines and to respect journalistic independence. Le Monde hopes that the deal with Outbrain will increase traction of its online content, thereby increasing Internet profits. Le Monde showed interest early-on in Outbrain’s services, and will now use the platform to promote content on eight of the publication conglomerate’s content outlets. Outbrain was founded in 2006 by Ori Lahov and Yaron Galai.
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March 02, 2015
CyberArk To Issue $200M Secondary Offering On NASDAQ
March 2, 2015 | The Israeli company CyberArk Software submitted a draft prospectus with the US Securities & Exchange commission to issue a secondary offering worth $200 million on NASDAQ. The company, which develops software to protect organizational information, will not raise any new funds in the offering. The underwriters for the secondary offering include Goldman Sachs, Deutsche Bank, Barclays, Bank of America-Merrill Lynch, and William Blair, among others. CyberArk was founded in 1999 by Udi Mokady.
March 01, 2015
Zimperium Raises $12M In Series B
March 1, 2015 | The Israeli mobile security company Zimperium announced that it closed a $12 million Series B funding round. The round was led by the Ventures group at Telstra, the largest telecom and information services company in Australia. New investor TOYO Corporation in Japan, which is also the company’s distributor in the country, participated in the round, together with Sierra Ventures, Lazarus Israel Opportunities Fund and Samsung. With headquarters in San Francisco and offices in Tel Aviv, Zimperium was founded in 2011 by Zuk Avraham and CTO Elia Yehuda.
March 01, 2015
Kornit Digital Hopes To Raise $100M In NASDAQ IPO
March 1, 2015 | Kornit Digital, an Israeli company specializing in digital printing solutions, filed with the US Securities & Exchange Commission to raise up to $100 million in a NASDAQ IPO. The company hopes to raised the funds at a company valuation of $500 million, according to reports. Kornit Digital has not yet determined the number of sales that will be sold nor the price range for the shares. Barclay’s Capital and Citigroup Global Markets will act as joint underwriters for the offering. Kornit Digital was founded in 2003 by Avi Shterling.
March 01, 2015
Chiasma Pharma Raises $70M In Series E Funding
March 1, 2015 | The Israeli biopharmaceutical company Chiasma announced that it closed a $70 million Series E funding round. Rock Springs Capital and Sofinnova Ventures were new investors in the round, together with existing investors MPM Capital, F2 Capital, 7 Med Health Ventures, Abingworth and ARCH Venture Partners. Chiasma hopes to use the new funds to grow its sales and marketing capabilities, as well as to prepare for the commercial launch of its product for adults with acromegaly, a rare endocrine disease, among other things. Chiasma was founded in 2001 and is headquartered in Jerusalem and Newton, Massachusetts.
February 26, 2015
Parko Named In MasterCard ‘Mobile Top App Index’
February 26, 2015 | MasterCard announced the “Mobile Top App Index,” a European Index of mobile shopping apps, and one of the top 19 apps is Israeli. Out of the top apps selected by MasterCard in 2015, Israeli parking assistance app Parko was chosen as a winner. The application provides crowdsourced parking information to users, letting them know when a parking spot is free or is about to be vacated. The application also provides navigation services to the parking spot. Parko was founded in 2011 by Andrea Kruchkik Krell, Itai David and Tomer Neuner.
February 26, 2015
Magic Acquires 70 Percent Stake In Israeli Software Co.
February 26, 2015 | Magic Software Enterprises will acquire a 70 percent stake in an Israeli company that specializes in software professionalization services for mainframes and large-scale environments. The agreement has the possibility to be expanded from a 70 to a one hundred-percent stake. Details were not disclosed regarding the name of the company or the price of the acquisition. Magic hopes that the acquisition of the company will expand its AppBuilder software solution for large and complex infrastructures. Magic was founded in 1986 by David Assia and Yaki Dunietz.
February 26, 2015
Pereg Ventures Raises $25 For New Fund
February 26, 2015 | Pereg Ventures is raising money for an investment fund for Israeli and US startups. The fund has already raised $25 million and hopes to raise an additional $75 million by the end of the year. Pereg as already invested some of its existing funds from the round in two Israeli startups, Zollo, in which it invested $1 million, as well as one US startup, RealNext. Pereg Ventures is run by two Israeli managing partners, former Nielsen VP Itzhak Fisher and Ziv Ben-Barouch and was founded in 2012.
February 26, 2015
Apple CEO Tim Cook Meets With Rivlin, Peres
February 26, 2015 | The global CEO of Apple, Tim Cook, has officially arrived in Israel to inaugurate the company’s new offices in Herzliya Pituach. Cook met with current Israeli President Reuven Rivlin as well as former President Shimon Peres. Cook reiterated to both leaders the importance of Apple Israel employees’ contributions to the company overall.
February 26, 2015
Wonga Fires 325, Plans To Close Tel Aviv Office
February 26, 2015 | The UK-based provider of short-term credit to customers, Wonga, announced that it will be cutting 325 jobs in London, other locations. 325 jobs a third of Wonga’s workforce and employees in London, Dublin, Cape Town and Tel Aviv are likely to experience cuts. The company has plans to save about 25 million pounds (approx. $38.6 million) in costs over the next two years, and as part of the decision it will entirely close its Tel Aviv office this year and Dublin in 2016. Wonga was founded in 2007 by Errol Damelin and Jonty Hurwitz.
February 26, 2015
ironSource Raises Additional $20M
February 26, 2015 | The Israeli company ironSource announced that it raised an additional $20 million from ClalTech. The $20 million invested by Len Blavatnik’s ClalTech brings the total funding round for the company to $105 million, including the $85 million in investments the company received last month. ironSource, a digital delivery platform, raised the funds at a company value of $800 million and it is expected that the company will go for an initial public offering. ironSource has offices in Beijing, New York and San Francisco, and is headquartered in Tel Aviv. ironSource was founded in 2010 by Eyal Milrad, Roi Milrad, Arnon Harish, Itai Milrad, Tomer Bar Zeev, Tamir Carmi and Omer Kaplan.
February 25, 2015
Vectorious Medical Tech Raises $5M
February 25, 2015 | Vectorious Medical Technologies, a medical device company, announced that it raised $5 million in new funding. Investors in the funding round included RadBioMed incubator and private investors including Zohar Gilon, Gur Muntzer and US-based Global Cardiovascular Innovation Center (GCIC) of the Cleveland Clinic. The company will reportedly use the funds to continue the development of its medical products for the treatment of cardiovascular conditions, with hopes to begin the first human trials together with US and Israeli cardiologists. Vectorious Medical Technologies was founded in 2011 by CEO Oren Goldstein.
