News Briefs

November 16, 2014 | Playtech, the Israeli gaming software development company, will raise $315 million via a convertible bond issue, which will be used, according to reports, for acquisitions and ‘organic opportunities.’ Some reports also suggested that Playtech could be mulling the acquisition of Bwin, an online gaming platform that allows betting in real money. Playtech is owned by Israeli Teddy Sagi and is publicly traded on the London Stock Exchange (AIM).

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November 16, 2014 | The Israeli Office of the Chief Scientist announced the winners of the Homeland Security and Cyber Security Innovation Competition. The first place award was bestowed upon Windward, an intelligence and information company that supplies analysts with information on the movement of ships around the world. As part of their award, Windward will receive a $3,000 for participation in an exposition specializing in its field and a place in the California-based Merage Institute, and a one-year membership in the Israel Export Institute.

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November 16, 2014 | Qihoo 360 Technology, the Chinese security firm, will invest $60 million in early stage Internet of Things (IoT) companies. The fund will be named 360 Capital IoT Fund and will invest in IoT companies in the United States, China and Israel. Qihoo itself will be the major limited partner of this investment vehicle, with other investors and strategic partners remaining unnamed. This past October, Qihoo 360 invested in the Israeli venture capital firm Carmel Ventures.

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November 13, 2014 | The international Internet company AOL and the Jacobs Technion-Cornell Institute will establish a ‘Connected Experience Lab’ to be located in New York and Israel. AOL will reportedly contribute nearly $5 million to the venture that will focus on research into the video and Internet media sectors. The areas of study engaged in at the Lab are set to include: human-computer interaction, computer vision, machine learning. The project’s two labs will be located in Israel at the Technion Israel Institute of Technology in Haifa.

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November 13, 2014 | According to reports by “Calcalist,” the young Israeli cyber security company Aorato has been acquired by Microsoft for $200 million. Aorato has raised over $11 million since its founding in 2011 by CEO Idan Plotnik, Ohad Plotnik and Michael Dolinsky. Aorato has developed a product called Directory Services Application Firewall that protects Active Directory and secure organizations against advanced cyber security threats. This past July, Aorato joined Microsoft’s information security venture, allowing the company to collect even more data on potential breaches in Microsoft’s systems, information which is used by the company to improve their cyber security product.

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November 13, 2014 | Teva Pharmaceutical Industries‘ multiple sclerosis treatment Copaxone is progressing through regulatory stages in Japan. According to estimates, the annual market potential for Copaxone in Japan is between $700-900 million. Teva signed an agreement with Japanese pharmaceutical company Takeda Pharmaceutical at the end of 2013, and while Teva believed that approval would be achieved within a year from that time, regulatory approval has yet to be granted. According to most estimates, the Copaxone drug is responsible for more than half of Teva’s profits.

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November 13, 2014 | The website Internet company Wix will broadcast an advertisement during the 2015 Super Bowl this coming February. The company will use the opportunity to broadcast their advertisement to millions of viewers in the United States on Wix’s platform for the easy construction of websites. As part of the campaign, the company will distribute exclusive video clips on social networks and other special content. Wix will have a 30-second spot during the most widely viewed broadcast in the US, which will cost $4.5 million. Wix was founded in 2006 by Israelis Nadav Abrahami, Avishai Abrahami, and Giora Kaplan.

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November 12, 2014 | Israel’s Agency for International Development Cooperation (MASHAV) has launched Operation Hospitals of Hope this week in an effort to combat Ebola in Africa. The Ministry of Foreign Affairs will designate over $300,000 (NIS 1.2 million), which will be used to send containers of medical equipment to three African countries: Sierra Leone, Guinea and Liberia. The equipment will also include mobile clinics that can hold up to 20 beds each, provide protective equipment for healthcare workers and more. This is only one project in the Israeli government’s effort to fight the Ebola epidemic, with the country already sending aid and experts to African nations in need.

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November 12, 2014 | The social marketing app for small businesses Wannabiz raised $2.2 million in a recent financing round and released a version of their platform for Android. The funding round was led Firstime Ventures, TheTime, along with investors Ilan Shiloach and Zohar Gilon. The company, which calls its service a “free marketing consultant in your pocket,” was released in its beta version last year for iOS, allowing small business owners to control all of their social marketing tools. Wannabiz uses an algorithm to determine which actions business owners should take to best promote their venture, based on previous actions, location and other factors. Wannabiz was co-founded by CEO Tamar Shor.

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November 12, 2014 | The fraud protection service developer Forter announced that it raised $15 million in Series B funding from New Enterprise Associates and Sequoia Capital. The two investors also participated in the inauguration of Forter’s new R&D center in Tel Aviv, which hopes to address growing concerns of e-commerce fraud. According to some reports, e-commerce fraud has nearly doubled in recent years, resulting in nearly $5 billion losses for online merchants. Forter has developed a fraud prevention solution, offering a real-time decision engine for online merchants.

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November 11, 2014 | The international nanotechnology company OCSiAl will most likely establish a production facility in Israel, investing over $30 million. According to reports, the facility will produce about 50 tons of Single Wall Carbon Nanotubes each year, possibly making this the largest facility for the production of this product. OCSiAl has already begun scouting possible locations for the plant in Southern Israel, employing nearly 30 local workers within the plant. OCSiAl is an international nanotechnology company with operations in the US, UK, Germany, South Korea and Russia, and is headquartered in Luxemburg.

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November 11, 2014 | The trip-ordering application Uber announced today (Tuesday) that it will release its UberX feature in Tel Aviv this weekend. UberX is a controversial feature that allows any private driver to turn his vehicle into a taxi cab ready for passengers. According to the company, the service will be available this weekend to a limited number of ‘experimental’ participants and passengers will ride free of charge. The service is controversial within Israel and in other locations around the world because of the lack of regulation, which is why Uber will offer the service free of charge this weekend. Uber is a ridesharing service founded by Travis Kalanick and Garrett Camp in 2009.

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November 11, 2014 | The Swiss investment bank Credit Suisse is interested in expanding its presence within the Israeli startup scene. According to a report by “The Marker,” the bank will participate in a high tech forum that is set to strengthen the ties between the Israeli startup scene and the Swiss bank. “The Marker” also reported that the bank seeks to establish a platform for investing in Israeli startups for Credit Suisse wealth management partners. Credit Suisse apparently became interested in the Israeli tech scene after Israeli banks, Bank HaPoalim and Leumi, established their own startup-geared arms last year.

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November 11, 2014 | Elbit Systems America, the US subsidiary of the Israeli defense company Elbit Systems, signed a contract to provide logistical support to the US Air Force. The deal will cost the US military $29 million over five years, with the company providing support for the Heads-Up Display advanced helmets to be worn by F-16 pilots. Elbit Systems is an Israeli defense electronics company, founded in 1996 and based in Haifa, Israel.

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November 11, 2014 | The Norwegian broadcasting technology company Vizrt will be acquired by Nordic Capital, a Scandinavia-based equity firm for approx. $370 million (2.5 billion crowns). Vizrt is a company creating interactive 3D infographics for television broadcasters like the BBC, Al Jazeera, CNN and CBS. The deal is set to take place once the company shareholders vote for the sale. Vizrt has offices in central Israel, but is based in Bergen, Norway.

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