Eyal Ofer, chairperson of Ofer Global, one of the controlling shareholders in Mizrahi Tefahot Bank and a shareholder in the Royal Caribbean Group cruise line company, is taking advantage of market conditions to invest in early-stage technology companies. Ofer has invested USD 400 million of his personal capital to set up a second fund of […]
Uncategorized
Cellcom Israel Ltd. has completed a NIS 400 million public debt financing through the issuance of a new series of public bonds listed for trading on the TASE. Due to high demands in the preliminary tender the scope of the public debt financing was increased from an in initial NIS 150 million to NIS 400 […]
Bank Leumi has raised NIS 2 billion as part of an expansion of existing series of contingent convertible bonds (“COCO”), as well as the issuance of a new series of commercial papers. Agmon & Co. Rosenberg Hacohen & Co. acted for Bank Leumi, led by partner Ran Shalom and associate Marom Bouznah of the Capital Markets Department.
One Peak has led a USD 70 million investment in Cymulate, with other investors including Vertex Ventures, Vertex Growth, SGE and Dell Technologies Capital. It takes the total raised by Cymulate to USD 141 million. According to TechCrunch, the cost of cybercrime has been growing at an alarming rate of 15% per year, projected to […]
Two years after the signing of the normalization agreement between Israel and Morocco, Minister of Economy and Industry Orna Barbivai has announced a further substantial step in the warming of relations between the two countries: the opening of an economic attaché’s office in Morocco in 2023. Read more here in Globes.
The recent frightening developments in the economy, which may be found to be exaggerated, concern many in the high-tech industry. Companies are required to cut costs, investors are sitting on the fence and waiting for the crisis to demolish their investments, creditors are starting to sharpen their sword, vendors are getting edgy on the credits […]
1,328 insolvency petitions relating to companies were filed in Israel’s courts in 2021, 11% more than in 2020, when 1,200 such petitions were filed. The figures are from a report published this morning by the Administrator General, the Commissioner of Insolvency Proceedings, and the Succession Cases Registrar at the Ministry of Justice. In 2021, debts […]
As the Covid pandemic triggered consumer demand for new virtual-first tools, the startup scene in the education field has gained momentum, according to IVC Data and Insights. As of today, the EdTech vertical continues to experience a boom in venture capital, with median capital raised per deal having increased by X5 over the last five […]
The period between the beginning of 2021 to mid-2022 was in many ways out of proportion. To begin with, startups’ valuations were flirting with a bubble scenario. This is good for entrepreneurs in the short term but makes the industry less competitive and less sustainable. Next is the human capital front. While it’s a good […]
Israeli company Elmo Motion Control is being acquired by German corporation Bosch for USD 700 million. Founded in 1988 by Haim Monhait, who still serves as its CEO, Elmo develops motion control intelligence solutions. The company designs and manufactures ultra-advanced servo drives and network motion controllers that are integrated into a wide variety of applications […]
