August 2, 2020

Amazon in talks to build three Israel data centers for NIS 1b

Azrieli and its partner Compass have bid to build and lease out the data centers to Amazon and have options on three lots for the purpose.

Tech giant Amazon is in talks to set up data centers in three locations in Israel, sources inform "Globes." Each Amazon Web Services (AWS) data center would consume 16 megawatts, more than all the data centers already operating in Israel. Amazon seems to be following in the footsteps of Microsoft and Oracle, which are setting up data centers in Israel.

🔗 globes.co.il

July 21, 2020

‘Chevron could open Israel’s energy market to Asia’

Gov’t officials hopeful after news of energy powerhouse’s purchase of Noble Energy

The entrance of Chevron into the Israeli energy market is a “game changer” that could help the country break further into the European and Asian markets, Energy Ministry director-general Udi Adiri said Tuesday.

Chevron on Monday announced it was purchasing Noble Energy, the operator of Israel’s Leviathan and Tamar natural-gas fields, for $5 billion. It sparked a surge of interest across the globe and was the largest deal of its kind since the start of the coronavirus pandemic. The takeover increases Chevron’s energy reserves by 18% and partners it with Yitzhak Tshuva’s Delek Group.

🔗 jpost.com

Chevron Logo Chevron

July 20, 2020

Chevron Announces Agreement to Acquire Noble Energy

• Brings high quality assets to Chevron’s global portfolio
• Proved reserves to be acquired for under $5 per oil equivalent barrel
• Delivers $300 million in anticipated annual pre-tax synergies
• Accretive to ROCE, free cash flow and earnings

The acquisition of Noble Energy provides Chevron with low-cost, proved reserves and attractive undeveloped resources that will enhance an already advantaged upstream portfolio. Noble Energy brings low-capital, cash-generating offshore assets in Israel, strengthening Chevron’s position in the Eastern Mediterranean. Noble Energy also enhances Chevron’s leading U.S. unconventional position with de-risked acreage in the DJ Basin and 92,000 largely contiguous and adjacent acres in the Permian Basin.

🔗 chevron.com

July 8, 2020

Israel’s Iron Dome Saves Lives … and Brews Your Coffee

The Start-up Nation needed a solution to combat thousands of terrorist rockets, and now that technology has far-reaching benefits

An Iron Dome missile costs less than 10 per cent of the cost of a conventional missile. As such, it is the most effective missile interceptor system in the world. The Iron Dome development has helped turn Rafael into a $3B defense system company.

But Rafael has also transferred its technology to spawn many products and businesses in a number of diverse fields. Its medical applications include insulin delivery and cryotherapy. It has developed businesses in the field of semiconductors, laser technology, broadband wireless systems, imaging, and high tech cameras.

🔗 thej.ca

January 22, 2020

Microsoft to set up Israel data center

The Microsoft Azure data center will be the first set up in Israel by a tech giant and will provide cloud services in Israel from 2021.

Microsoft says that its Azure infrastructure Israel data center will be operating in 2021. The expansion to Israel will mean that Microsoft azure will be providing its cloud services to 21 countries and 56 regions. The Israeli data center will make Azure technology available to users while strictly meeting regulatory requirements in Israel for data storage, and data security.

🔗 globes.co.il

December 26, 2019

Intel Most Active Multinational in Israel, Google Leads on Acquisitions, Report Says

362 multinational companies operated in Israel in 2019, making $983 million in foreign corporate investments across 196 deals

Intel was the most active multinational corporate in Israel between 2014 and 2019, participating in 52 investment rounds and buying five local companies for a total of $17.5 billion, according to a new report published jointly by Tel Aviv-based research firm IVC Research Center Ltd., Israel-based GKH Law Offices, and umbrella organization Israel Advanced Technology Industries (IATI). The two most active multinationals in the past five years in terms of just acquisitions, however, were Google, with 10 deals, four of them acquihires, and Microsoft, with eight, according to the report.

🔗 calcalistech.com

September 22, 2019

Facebook buys Israeli startup to give better bot service to digital wallet usersy

News of Servicefriend acquisition first reported by TheMarker financial website; social media giant confirms, saying it acquires ‘smaller tech companies from time to time’

Social media giant Facebook has acquired Israeli startup Servicefriend for an undisclosed amount of money, TheMarker financial paper reported Sunday, citing one of the investors in the company.

The startup, founded in 2015 by Shahar Ben Ami and Ido Arad, builds bots that chat and interact with clients via messaging or text apps, using artificial intelligence. The hybrid technology developed by the firm enables humans to step in and take over when the bots don’t know how to handle a situation, and clients never find out if the messages were generated completely, partly or not at all by humans. The result is a “natural and conversational experience.” the startup’s website says.

🔗 timesofisrael.com

July 14, 2019

The secret to success of an Israeli company that’s the darling of Warren Buffett

Berkshire Hathaway bet on Iscar when no one even seemed to know the Israeli company existed. And the investment has more than paid for itself.

Iscar is a metalworking tool manufacturer in Israel that few people had heard of until the Oracle of Omaha, Warren Buffett, blessed it with an investment in 2006. It was the first time Buffett’s Berkshire Hathaway invested in a company outside of the US, and one of the biggest foreign investments in an Israeli company ever, amounting to about $4 billion for 80% of the metalworks.

Buffett bought the remainder of Iscar for another $2 billion in 2013, valuing the company at $10 billion. Although Iscar doesn’t reveal its numbers, Haaretz reports that “sources close to the company” say Iscar has made about $6 billion for Berkshire Hathaway since its initial investment, meaning the bet has at least paid for itself and possibly yielded about $1 billion in profits.

🔗 qz.com

January 29, 2019

Intel to Invest an Unprecedented $11 Billion in Israel Factory

Intel Corp. will build a 40-billion-shekel ($10.9 billion) plant in Israel, the largest investment of its kind in the country’s history, Finance Minister Moshe Kahlon said.

Intel Corp. will build a 40-billion-shekel ($10.9 billion) plant in Israel, the largest investment of its kind in the country’s history, Finance Minister Moshe Kahlon said.

The Israeli government will give Intel a grant equal to 9 percent of the investment, and the project will create at least 1,000 jobs, Kahlon said in an interview Tuesday with Army Radio.

🔗 bloomberg.com

January 20, 2019

IFF CEO: Buying Frutarom has transformed us

International Flavors and Fragrances CEO Andreas Fibig tells "Globes" about the company's future plans in Israel.

The acquisition of Frutarom gave IFF an extensive base in Israel, including Frutarom's plant and facilities in Haifa Bay and the plant and development center of Enzymotec in Migdal HaEmek. IFF now has a total of 400 employees in Israel out of 13,000 employees worldwide.

Fibig says that the acquired activity in Israel enables him to be exposed to many aspects of the economy and industry in Israel. "One aspect concerns the very good agritech and biotech sectors that exist here, which can help us in areas of innovation. The second aspect is the base of investors, because we see that there's a lot of money here and many sophisticated funds that we will be glad to see become long-term investors in our share. In recent weeks, we saw that IFF's share can provide an anchor of stability in periods of uncertainty."

🔗 globes.co.il

May 7, 2018

IFF to Combine with Frutarom to Create a Global Leader in Taste, Scent and Nutrition

International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris:IFF) and Frutarom (TASE:FRUT) (LSE:FRUTq) today announced that they have entered into a definitive agreement under which IFF will acquire Frutarom in a cash and stock transaction valued at approximately $7.1 billion, including the assumption of Frutarom’s net debt.

By combining with Frutarom, IFF is accelerating its Vision 2020 strategy to create a global leader in taste, scent and nutrition. The combination unites two industry-leading, innovative companies with complementary customers, capabilities and geographic reach, resulting in more exposure to fast growing end markets and an enhanced platform to deliver sustainable, profitable growth. The combined company’s customers will have access to comprehensive and differentiated integrated solutions with increased focus on naturals and health and wellness.

🔗 businesswire.com

March 23, 2017

Israel looks to leverage tech in $50 billion medical marijuana market

Israel, a leader in marijuana research and health technology, is attracting international investment as it tries to position itself as a cutting-edge exporter in the rapidly-growing market for medical-grade cannabis.

With estimates that the global market for medical marijuana could reach $50 billion by 2025, the Israeli government is set to allow the local industry to start exporting and projects annual revenues in the hundreds of millions of dollars.

Medical cannabis is a relatively new field with no universal clinical standard. Israel aims to fill the void by combining its expertise in agriculture, technology and cannabis-based medicine, said Yuval Landschaft, head of the health ministry’s medical cannabis unit (IMCA).

🔗 reuters.com

May 21, 2017

Gas Talks With Turkey May Wrap Up in Summer, Says Israel Energy Minister

Talks between government officials on building a natural gas pipeline from Israel to Turkey may conclude as early as this summer, Israeli Energy Minister Yuval Steinitz said on Tuesday.

March 13, 2017

Intel Buying Mobileye in Biggest Ever Deal in Israeli High tech

"This acquisition is a great step forward for our shareholders, the automotive industry and consumers," said Intel CEO Brian Krzanich in a release announcing the deal.

February 16, 2017

5 things to know about U.S.-Israel economic ties

From military aid to Israeli R&D outposts for U.S. tech companies, the two countries are deeply intertwined

Israel has received the most U.S. military aid of any country since it was founded in 1948 because its neighbors in the Middle East have vowed to wipe if off the map. Even when the relationship hit a rough patch during the Obama years, the money continued to flow. The U.S. agreed last year to provide $38 billion in assistance over the next decade, the largest deal of its kind ever. However, it was less than what Netanyahu wanted. Israel will use the aid to buy American weapons and defense equipment, such as Lockheed Martin’s (LMT) F-35 Joint Strike Fighter.

🔗 cbsnews.com

January 11, 2017

New Tel Aviv-Jerusalem Highway Opening Next Week

Two tunnels will eliminate a steep incline and sharp turns.

October 11, 2016

Israel’s Housing Market Booming

May 26, 2016

Hello World Israel: Turning Soldiers Into Entrepreneurs

Learn how the constant threat of war has shaped Israel's tech industry.

May 23, 2010

Secrets about the Israeli Technology

Israel is one of the leading countries in the field of biotech research, standing side by side with the European nations and the US. This phenomenon is strange for a country that is in an area which isn't leading the field of academic research, and most of its population hasnt achieved more than basic education. So how did Israel become a technological oasis?