Israeli exits halved in 2023

Broken unicorns Illustration: Gil Gibli
Broken unicorns Illustration: Gil Gibli

Acquisitions and IPOs of Israeli companies fell 50% last year in dollar terms and 36% in the number of deals.

The Israel exits report for 2010-2023, which was published today by the Central Bureau of Statistics in cooperation with the Ministry of Innovation, Science and Technology’s Nation Council for Regional R&D found, among other things, that the number of tech exits in 2023 was down 36% from 2022. There were 96 deals in 2023 including mergers and acquisitions as well as initial public offerings (IPOs). The report also found that most of the tech exit deals were in cybersecurity - 26 deals representing 30% of all the exits in 2023.

The report also found that the total amount of the exits in 2023 fell 50% to $11.5 billion from $22.4 billion in 2022. The report also found that the total amount of exits in the cybersecurity industry was $7.2 billion in 2023, which was 63% of the total exits last year.

Over a third of the companies have existed for five years or less

The report also found that over a third of the companies have an exit do so within five years orf being founded. In terms of the size of deals, the number of exit deals worth up to $50 million was 64% of the total number of exits in 2023, compared with 70% in 2022.

The report also examined what happened to the companies after the exit and found that 34% of them closed in the year they made the deal.

The report also examined the average monthly salary for salaried employees in all the companies that made an exit, which in 2023 was about NIS 30,000.

In terms of the buyers, the report found that 52% of the companies were acquired by entities from the USA and/or were floated on the stock exchange in the US.

The report also found that in 2023, both the number and amount of exits in which companies were acquired by Israeli entities, or held an IPO on the Tel Aviv Stock Exchange (TASE), declined 47% in acquisitions and 19% in IPOs compared with 2022.

Published by Globes, Israel business news - en.globes.co.il - on August 7, 2024.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2024.

Broken unicorns Illustration: Gil Gibli
Broken unicorns Illustration: Gil Gibli
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