Big Buck Exits in Israel’s Hi Tech
Remember when we reported that Google was planning to buy the Israeli traffic app Waze for a sum close to $1 billion? That was undoubtedly a huge sum of money for an Israeli startup, but it turns out that there have been many other successful exits this year. The business publication Globes recently reported that so far this year $36.2 billion have been paid for hi tech and biotech companies in Israel, which represents about twenty different companies. This year’s turnover isn’t the highest on record, but it is a definite sign of the very good hi tech economy in Israel. In fact, it’s the third year in a row that high tech in Israel has been extremely profitable. Figures for 2012 were $3.9 billion and the year before a total of 36 businesses brought in $5 billion. The year that takes the cake is 2006, when exits reached $10.1 billion and include SanDisk Corporation and Hewlett Packard Co.
One Exit That Will Please Israel’s Economy Minister
One new exit is about to make our Economy Minister a very rich man. Since Naftali Bennett served as the CEO of Soluto for a short period of time, he will get a sizable share of its acquisition by Asurion Corporation, which is in the range of $130 million. The company has developed an online program that helps with optimization of your computer’s performance. By analyzing the applications that are loaded on to the startup system, it can evaluate how much time they need to load. If you are running applications that are unnecessary, the Soluto solution will recommend that you ditch them to quicken your boot up. It’s run by some true computer geniuses who have been programming computers since early childhood, including its CEO, Tomer Dvir and CTO Omri Haim. Soluto became a big name in the international high tech scene in 2010 when it won a startup competition sponsored by TechCrunch, which was later documented in the reality series called “Connected.”