![]("http://www.globes.co.il/serve/images/blue_pixel.gif") |
|
Precise sold for $537 million
Precise Software Solutions proved that Israel’s high tech sector was worthy of investment when it announced last week that it was sold to California’s Veritas Software for $537 million in cash. The price was 37% above market , causing Precise shares to jump by that amount after the announcement. The biggest deal of the week in Israel’s venture capital market went to InterWise , which said it raised $12 million from existing investors. The company develops real-time interactive information transmission systems, mainly for the e-learning market. “Globes” also reported that VC fund Vertex was restructuring, and that its Israel unit was likely to increase investments in portfolio companies. Vertex Israel manages three funds, including the $160 million Vertex Israel II, which closed early this year.
| |
|
Venture capital investments
Information technology
Media
Healthcare
Defense and aerospace
Features
Vertex grows to $650m
Vertex Management Israel will also manage Vertex Management Europe and increase its investments in its portfolio companies.
|
AIG Orion considering reducing fund by $35m
The fund, which manages $110 million, is also considering a reduction in its management fees.
|
Lewis Trust Group bids for Israeli VC Sadot R&D
The UK-based investor is seeking a 75% stake in Sadot. Its offer price lies 17.6% above market.
|
InterWise raises $12m
The finance was raised from existing investors. The company develops e-learning solutions.
|
Florence Medical raising $6-10 million
The medical devices company plans to buy a product to complement its stents technology.
|
DeepBreeze raises $4m
DeepBreeze is developing an imaging device for the lung, capable of identifying problems in real time.
|
Wireless multimedia co Bamboo expands financing round to $7.5m
Bamboo MediaCasting raised another $1.5 million from Apropos IT Ventures and Singapore fund TIF.
|
Intel invests in Israeli start-up Passave
Intel Capital is investing about $800,000 on top of the company's first financing round.
|
Tshuva one step closer to making Green VC private
After the latest rights issue, only 9% of Green shares are held by small investors in the company.
|
Veritas to buy Precise Software in $537m deal
Precise CEO Shimon Alon: The combination of Precise and Veritas represents an exciting opportunity for our shareholders, customers, partners and employees.
|
LanOptics subsidiary EZchip raises $13.5m
Participants in the round have the option to invest an additional $8 million. EZChip also secured a $3 million credit line.
|
Terayon shares soar after CableLabs certifies modems
Terayon CEO Zaki Rakib: We can now offer a complete and end-to-end DOCSIS 2.0 cable data system.
|
XMPie sells $2m worth of products to Fuji Xerox
XMPie develops and markets software solutions for direct personalized marketing.
|
ITRAN to supply modems to LG in $1.5m deal
ITRAN Communications president and CEO Avner Matmor: LG aims to install communications over power lines components.
|
NICE Systems to provide voice recording for LAPD
The system will record 800 simultaneous phone and radio conversations, and store call details for up to three years.
|
Navy Federal Credit Union selects Cyota-based solution
Navy Federal’s “Card Guard” solution is powered by Cyota’s SecureSuite platform. The value of the deal was not disclosed.
|
Alvarion receives follow-on order from Romania’s AccessNET
Alvarion said the order was for broadband wireless access equipment in the 3.5 GHz band.
|
Connect Austria buys Comverse MMS solutions
MMS services allow wireless subscribers to send and receive messages with pictures, text and audio. No value was disclosed.
|
TV Globo of Brazil selects Orad for virtual ads
Revenue-sharing deal is expected to generate sales of at least $5-10 million.
|
Shmueli made purchase offer for Top Image at $1.05 per share
Assi Shmueli and an investment group own almost 10% of Top Image Systems. “We want to gain control".
|
Camtek wins order from Swiss company Dyconex
Dyconex, a maker of printed circuit boards, has ordered Camtek’s Orion 800 optical inspection systems.
|
IAI entering cellular communications, portable computers
Through Medis Technologies, Israel Aircraft Industries will develop a power loader for cell phones, based on fuel cells.
|
Civcom negotiating to acquire company
Optical network components developer Civcom is considering a merger with or acquisition of an R&D department. Other Israeli start-ups in the field have encountered difficulties or closed down.
|
Desheh: No lay-offs planned at Check Point
Check Point CFO Eyal Desheh: Online reports published about lay-offs at the company are utter nonsense.
|
Brazil’s Tess buys Amdocs billing solutions
Earlier this year, Amdocs announced that Tess had selected its Fraud Management solution.
|
Amdocs executives' ties to offshore trust draw scrutiny
Channel Islands registered Toes Corporation, owned by an Amdocs employee trust, has sold more than $150 million worth of Amdocs shares since December 1999
|
ClickSoftware cuts 37 jobs, mostly R&D in Tel Aviv
CEO Moshe BenBassat: We believe the company can now reduce its R&D budget.
|
“Yediot Ahronot”: YES halts negotiations to buy Warner Bros. movies
Warner Brothers filed a $17 million suit against cable company Tevel and a $21 million suit against Golden Channels.
|
Cable cos seek time to resolve single borrower problem
Senior cable exec: Sell part of merged cable company with other groups aside from Apax and Shamrock.
|
Yacha Sutton steps down as Lumenis CEO
The medical device company is searching for a permanent CEO; vice chairman Arie Genger will take over for now.
|
US court rules Teva did not infringe Remeron patent
Teva says the decision will allow the FDA to grant final approval for its generic version of the depression drug.
|
Syneron gets CE mark approval for wrinkle removal system
Approval for Polaris WR means the system can be marketed in Europe.
|
Oridion receives FDA approval for breath test device
The BreathID device tests for bacteria that can cause peptic ulcers and gastric cancer, Oridion says.
|
Taro gets FDA approval for two generic drugs
Taro will now market antifungal cream Ketoconazole, which has annual US sales of $54 million.
|
Omnicell of US acquires Medisafe
The Israeli company developed software that monitors medical procedures to prevent errors in drug dosages.
|
Tadiran Communications to supply system for JSF
Tadiran Communications may be a supplier for the $300 billion 300-plane program.
|
Washington source: JSF agreement with Israel within 2 months
Israel will pay tens of millions of dollars to integrate systems into the Joint Strike Fighter.
|
NetJet negotiating to buy Elta civil airliner defense system
Warren Buffet owns NetJet. Elta's Flight Guard system protects planes from missiles. The deal could be worth hundreds of millions of dollars.
|
"It was love at first sight"
Shimon Alon, CEO of Precise Software, after being acquired by Veritas Software for $537 million in cash: There was a meeting of minds between their executives and our development managers.
|
Running with the billing giants
John Little talks to "Globes" about Portal Software's competitive edge, market trends, and M&A. "I'm unaware of negotiations between us and Amdocs".
|
Receiving loud and clear
Dekolink Wireless has an easy life as a spin-off, with four products on the market and plans to buy complementary technologies.
|
Sowing seeds
Israeli VC's hardship gives rise to old trend: seed investment in start-ups.
|