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November 25, 2015 / 13 Kislev, 5776
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Posts Tagged ‘high-tech’

Emerson Buys Israel High-Tech Firm, Will Set Up R&D in Israel

Thursday, December 19th, 2013

The giant Emerson company of the United States has joined the high-tech parade t Israel and has bought the Israeli start-up Israel’s privately-held APM Automation Solutions, for tens of millions of dollars. APM’s operations will remain in Israel, where Emerson will set to a research and development center in Israel.

APM has developed solids volume and level measurement instrumentation and will now be part of the Emerson Process Management business. APM’s acoustic imaging and 3D mapping technologies measure the level, volume and mass of bulk solids and powders stored inside a silo or open bin.

Emerson’s market cap is $48 billion with annual sales of $24.4 billion in 150 countries.

“This is the Apple of the computing and control industry,” said APM co-founder Ofir Perl, who said that Emerson will hire dozens of employees in Israel.

Israeli Developer of Swallowable Camera Bought for $860 Million

Monday, December 9th, 2013

An Irish company will purchase Given Imaging Ltd., an Israeli firm that developed a swallowable camera to diagnose problems in the digestive tract.

Covidien Plc agreed to acquire Given Imaging from shareholders of IDB Holding Corp. Ltd. for about $860 million, it was reported Sunday. Given Imaging is the inventor of the PillCam, a swallowed optical endoscopy technology.

Covidien acquired three other Israeli medical device companies, all in 2012.

IDB subsidiaries Discount Investment Corp., Elron Electronic Industries and Rafael Development Corp. hold stakes in Given Imaging. The three companies were set to approve the deal on Sunday, which also must be approved by shareholders of Given Imaging.

Apple Confirms It Is Paying $350 Million for Prime Sense

Monday, November 25th, 2013

Apple has made short shrift of recent denials of Israel’s PrimeSense gesture recognition company that it is being bought out and has and confirmed on Monday it is paying $359 million for the firm.

“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” said Apple in a statement following 18 months of negotiations.

PrimeSense was founded as a start-up in 2005. Its software is embedded in Microsoft’s Kinect system and is used in Xbox 360 game consoles. Its gesture recognition technology allows purchasers to use their tablets to buy clothing by scanning their bodies.

Apple will embed PrimeSense’s technology in it smart TV that is scheduled to hit the market in 2015, Globes reported. Apple might also install the technology in iPads.

The acquisition is Apple’s second in Israel. Two years ago, it paid $400 million for Anobit.

Tel Aviv University to Set up Life Sciences Center in China

Friday, September 13th, 2013

Tel Aviv University and China’s Tsinghua University have signed a Memorandum of Understanding for strategic cooperation in innovative research and teaching, with an investment of hundreds of millions of dollars.

A new research center in China initially will focus on life sciences and nanotechnology but later will include other sciences and high-tech, Globes reported.

The new “XIN” center will recruit researches and students in Israel and China.

Tel Aviv University president Prof. Joseph Klafter said that founding the new center is a sign of how much China looks to Israel for innovation.

Another Israeli Start-Up to Raise Money on Wall Street

Monday, September 9th, 2013

Israeli start-up Outbrain, which provides a digital content management and storage solution,  sis going to Wall Street to raise $100-200 million in a public stock offering.

The company’s decision to go public rather than sell out to foreign companies puts it in company with Wix, Matomy Media and Fifty One Inc., now called Borderfree, all of which are in the process of offering shares to raise money.

Outbrain’s content recommendations engine is based on what reader’s prefer and is aimed at keeping readers on a news site for a longer time, enabling the site  to sell more advertising.

Its customers include Reuters and The New York Post as well as with companies such as General Electric, which market items on websites.

Israeli ‘Start-Up’ Magnet for American Non-Jews

Sunday, September 8th, 2013

Israel’s reputation as an incubator for Start-Ups has attracted non-Jewish Americans who have settled into successful careers, The Christian Science Monitor reported.

The new immigrants have a downside because some of the non-Jewish entrepreneurs have married Israeli girls. Although their children are Jewish according to Jewish law, the chances of their growing up in a Jewish tradition is low.

The Monitor related the story of Port Huron, Michigan native Cameron Peron, who “left the US in 2005, feeling it had largely lost its entrepreneurial spark.”

Armed with a degree in international business and marketing from the University of Arizona, he met an Israeli girl in San Diego and moved with her to Tel Aviv. They are married, and he is the vice president of marketing at Newvem, a cloud-optimization and analytics firm that works with Amazon Web Services and Windows Azure.

The main reason I’ve chosen to stay here is because of the start-up scene,” he told the Monitor. “There’s a special kind of approach to business, creating something out of nothing. The drive to build something, to make it happen against all odds … I didn’t see that in the US.”

’Middle Class’ Champion Lapid One of Richest Israeli Politicians

Tuesday, September 3rd, 2013

Yesh Lapid party’s chairman Yair Lapid’s wealth is estimated at $6 million, ranking him number six in Forbes Israel’s listing of the top 10 politicians in Israel.

The estimated wealth comes as no surprise to his former supporters, who have helped  his party’s popularity dive by 50 percent since Lapid led the party to win 19 seats in the Knesset with a campaign boasting him as a champion of the middle class.

As Finance Minister, he promptly hiked regressive taxes and cut child welfare benefits, felt most by lower and middle income wage earners.

The list of the top 10 also shows that he is not the only Yesh Atid MK with a fat bank account. Yaakov Perry was ranked right behind Lapid with a fortune of more than $5 million. However, he has said that he is closer to being “middle class” rather than “rich,” which he apparently defines as someone like Warren Buffet.

Not surprising, Jerusalem Mayor Nir Barkat, who profited millions of dollars from his Checkpoint  high-tech company, Prime Minister Binyamin Netanyahu and Minister Silvan Shalom are on the list. Shalom’s wife is from the family with substantial investments, the most well-known being the Yediot Acharonot newspaper.

However, there also are quite a few “limousine liberals” who are big on helping the working class.

In second place, behind Barkat, is Labor party MK Erel Margalit, with an estimated wealth of $60 million, most of made through his Jerusalem Venture Partners enterprise and other business transactions.. In last place” is Labor MK Yitzchak Herzog, with a paltry $3 million.

Other political fat cats are Yair Shamir, son of the late Prime Minister Yitzchak Shamir and a member of the Israel Beiteinu faction of Likud, in fourth place with an estimated wealth of $20 million. Right behind him is Meir Sheetrit, a former Likud and Kadima MK and now a member of Tzipi Livni’s party.

As expected, Jewish Home chairman Naftali Bennett is one the list, in ninth place with a fortune of $7 million.

Printed from: http://www.jewishpress.com/news/middle-class-champion-lapid-one-of-richest-israeli-politicians/2013/09/03/

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