France based Quotium Technologies announced that it will acquire Seeker Security. Details of the deal were undisclosed. The two companies have been working together for three years to develop Seeker, an automated solution for guaranteeing application security. Seeker, founded in 2004, is based in Herzliya Pituach, Israel.
News Briefs
June 25, 2012
Quotium Technologies To Acquire ‘Seeker Security’
June 24, 2012
Mobile Ad Network ‘Todacell’ Raises $2M
Mobile ad network Todacell announced it has raised $2 million from AfterDox, a group of investors from telephony billing solutions provider Amdocs, as well as private investors. The proceeds will be used to support the company’s growth, expand the London office and add an office in Berlin. Todacell provides advertisers and agencies with proprietary optimization and targeting technology. The company, founded in 2007, is headquartered in New York, with an R$D center in Israel.
June 24, 2012
Parking Solutions Co ‘Parko’ Wins Israeli Mobile Challenge
Parko, a startup company that brings crowd-sourcing solutions for finding parking spots, was announced as the winner of the third Israeli Mobile Challenge competition. The application automatically finds available parking spots, and offers them to potential drivers looking for parking. The competition was hosted by The Communication System Engineering department at Ben-Gurion University in Be’er Sheva, Israel.
June 24, 2012
‘Perrigo’ To Invest $40M To Expand Israeli Plants
Perrigo, the US generic drug company, announced it will invest $40 million over the next three years, in order to expand its R&D and production in its two plants in Israel. As part of the investment, Perrigo says it plans to add 100 employees to its plants in Yeruham and Ramat Hovav in the Israeli Negev. The company currently employs approximately 7,000 employees worldwide, out of them 900 in Israel.
June 21, 2012
Office ForTablets App ‘CouldOn’ Raises $16M
CloudOn, a tablet app for creating, editing and managing Microsoft Office and Adobe documents in the cloud, announced it has closed $16 million in a Series B funding round led by The Social+Capital Partnership. In the round participated also Translink Capital and existing investors: Foundation Capital and Rembrandt Venture Partners. CloudOn was launched in January 2012 and according to the company passed one million downloads in less than five months. It will use the funding to scale business operations and develop a productivity workspace available on any mobile device. The company is based in Silicon Valley with offices in Herzliya, Israel.
June 21, 2012
‘Pango’ Launches Parking Service In NYC
The Israeli mobile parking payment company Pango has launched a service in New York City. The company´s app will be used to activate parking payment in garages. The service is currently available only in one parking lot, but the company says they will soon be adding more garages. A user arriving with a car to the parking lot can use the app to summon a valet. On the way back, users can use the app to ask that their car will be ready for them, while the payment is done automatically via the users’ account.
June 21, 2012
‘Waze’ Launches Tool For Real-Time Gas Prices
Waze, the social GPS and live traffic app, announced a new tool of real-time gas prices updated by drivers, as part of its 3.2 version. Drivers can keep each other informed about the prices at the pumps and find the cheapest gas along their route. Other new Waze features include Category Search, such as parking lots and car repair shops, and Voice Control for Android users. The new feature is currently only available in the US.
June 20, 2012
‘CA’ Partners With Tel Aviv University On Innovation Center
CA Technologies announced it is extending its university relationship program with plans to roll out a new Innovation Center in partnership with Tel Aviv University (TAU) in Israel, collaborating on topics such as IT management and cyber security. Through its CA University Relations programs, CA Technologies has been working with academic institutions around the world to develop and implement initiatives that drive innovation, offer unique opportunities for students and faculty and uncover fresh ideas for new products and solutions.
June 20, 2012
Google Acquires Magnolia Broadband’s Patent Portfolio
Magnolia Broadband has sold its beam forming Mobile Transmit Diversity (MTD) patent portfolio to Google. According to the company, the patent portfolio is based on over a decade of R&D and testing. It covers methods for increasing spectrum utilization (network capacity), expanding coverage, improving uplink transmission speeds at the cell edge and improving device battery life. Magnolia Broadband is based in New Jersey and was founded by Israeli entrepreneur Haim Harel. According to the company, the proceeds will help finance on-going R&D.
June 20, 2012
‘XTL Biopharmaceuticals’ Acquires ‘Kitov Pharmaceuticals’
XTL Biopharmaceuticals, a biopharmaceutical development company based in Herzliya, Israel, announced it will acquire Kitov Pharmaceuticals. The company said it could pay up to $48 million through shares as well as cash milestone payments. Kitov Pharmaceuticals, which researches and develops combination drug products, has focused on the treatment of hypertension and pain induced by osteoarthritis. XTL focuses on the acquisition, development and commercialization of pharmaceutical products for the treatment of clinical unmet needs.
June 20, 2012
‘Medgenics’ Raises $9.5M In Private Placement
Medgenics, the developer of technology for the sustained production and delivery of therapeutic proteins in patients using their own tissue, announced it has raised approximately $9.5 million in private placement, through the sale of nearly two million shares. Medgenics intends to use the proceeds to advance clinical trial programs for its treatments of anemia and hepatitis, as well as for R&D, patent maintenance and general corporate purposes. The company holds offices in San Francisco, California and Misgav, Israel.
June 19, 2012
‘Evogene’ And ‘Rasi Seeds’ To Produce Drought Resistant Rice
Israeli based company Evogene, which develops improved plant traits, announced it will collaborate with India based company Rasi Seeds, specializing in seed production and supply. The two companies will focus on increasing yield and drought tolerance in rice. Financial terms of the agreement were not disclosed. Under the collaboration agreement, candidate genes discovered by Evogene for these key traits will be introduced into Rasi Seeds pipeline for the development of improved hybrid rice. Evogene is headquartered in Rehovot, Israel.
June 19, 2012
Face.com Sold To Facebook For $100M
Israeli facial-recognition technology company Face.com officially announced that it has been acquired by Facebook. Financial details were not disclosed by both companies, but according to estimates – the deal was made for approximately $100 million. Face.com was founded in 2007 in Tel Aviv, providing advanced facial recognition technology for photos loaded onto websites and via mobile applications. To date, Face.com has raised $5.3 million.
June 18, 2012
Cancer Therapy Developer KAHR Medical To Raise $2.6M
KAHR Medical, the developer of novel drugs for the treatment of cancer and autoimmune diseases, will raise $2.6 million at a pre-investment valuation of $11 million. KAHR Medical is a portfolio company in which Hadasit Bio-Holdings, a publicly traded portfolio of biotech companies based on intellectual property developed by the Hadassah University Hospital, and Sanofi hold approximately 70% and 20% respectively. Thomas Eldered, co-owner of Recipharm, will invest $2 million and hold approximately 15% of the company. The pharmaceutical company Sanofi will maintain its current holdings with an investment of $500,000. Hadasit Bio-Holdings will invest an additional $100,000 and reduce its holding in the company to approximately 55%.
June 17, 2012
The Collective Buys Israeli Video-Sharing Site Metacafe
Hollywood management agency The Collective has acquired Israeli online video sharing site Metacafe, according to reports this morning from AllthingsD. The report did not uncover any financial details of the deal, but said The Collective is acquiring Metacafe for its infrastructure and sales team. The Collective is the firm that represents Annoying Orange, Fred and IJustine, FreddieW, and other YouTube stars. The Collective says it is creating a “powerhouse production house for the online age” via its Collective Digital Studio (CDS) arm.
