buys Israeli co Implisit Insights - report

start up
start up

The US company will pay tens of millions of dollars for the Tel Aviv-based data-entry automation startup, the "Wall Street Journal" reports.

US cloud computing company (NYSE: CRM) is acquiring Israeli data-entry automation startup Implisit Insights, the "Wall Street Journal" reports, "according to people familiar with the matter." No financial details concerning the deal have been disclosed but "two people familiar with the deal described it as worth tens of millions of dollars."

The "Wall street Journal" added that a spokeswoman for declined to comment and Implisit was not available to comment.

Founded in 2012 and based in Tel Aviv, Implisit helps customers analyze data among sales teams and claims it can increase revenue 30% using algorithms. The company was founded by CEO Gilad Raichshtain and CTO Elad Donsky and raised $3.3 million in 2014 in a financing round led by Gemini Israel Ventures. has previously bought two Israeli startups: SaaS encryption services company Navajo Systems in 2011; and data-mining startup Bluetail in 2012.

Published by Globes [online], Israel business news - - on May 9, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018