"The scale of mergers and acquisitions in the first ten months of 2013 is the highest in ten years, amounting to $4 billion," said Ernst & Young Israel chairman Ronen Barel at the "Globes"-Ernst & Young 2013 Journey Conference in Tel Aviv today. "This achievement by Israeli industry is especially noteworthy, given the drop in mergers and acquisitions in the US over this period. Acquisitions of venture-backed Israeli-affiliated companies equalled 20% of acquisitions of American companies, while investment in Israel companies was 5% of investment in American companies."
Barel also noted offerings this year, which was a good year in both the technology and life sciences industries. He also mentioned the increase in venture capital investment in Israel compared with 2012. "The quality of the supply of Israeli companies encourages venture capital funds to resume investing in early-stage companies," he said. "Fundraising by funds suggests that there is a good chance that this positive trend will continue in 2014."
Barel emphasized the importance of the life sciences industry, saying, "Development of the life sciences is very important, and improves Israel's standing in the international arena, imparting positive momentum to the industry." He added, "The amount of capital raised by life sciences companies grew this year, which will enable them to invest more in R&D." He cautioned, however, "Greater financial resources are needed by the industry to grow."
Published by Globes [online], Israel business news - www.globes-online.com - on October 17, 2013
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