Start-up acquisitions highlight Israeli tech resilience amid challenging circumstances
Israeli tech firm Innocom, a well-known product distributor within the Aman Group, made a strategic move into the Observability field by acquiring Webiscope, in a deal valued in the millions of shekels. This acquisition expands Innocom’s product portfolio and enhances Webiscope’s existing customer base.
In another example of the Israeli hi-tech sector’s resilience despite the ongoing conflict, US-based Shift4 moved to acquire Israeli cross-border e-commerce payments provider Finaro. Shift4, a global leader in integrated payments and commerce technology, completed the acquisition successfully late last week, in a strategic move that significantly expands the company’s reach, both in terms of geographic coverage and industry verticals.
Furthermore, the Government allocated a fourfold increase in funding, from NIS 100 million to NIS 400m, for the Israel Innovation Authority’s Fast-Track program to support the hi-tech sector during the ongoing hostilities, aiming to provide immediate relief to startups facing financial challenges due to the current state of affairs.
Read more in Jerusalem Post.
