Israeli Growth Exceeds OECD and the USA

Straight from the Jerusalem Boardroom #150, February 18, 2011

1.  A 7.8% growth of Israel's economy during the fourth quarter of 2010 – a 4.5% annual growth in 2010, compared with OECD's 2.8%, USA's 2.7%, Turkey's 8.2% and South Korea's 6.2%. Export surged 10.3% during the fourth quarter – a 3.7% annual growth. Investments expanded 15.9% during the fourth quarter (Globes Business Daily, Feb. 17, 2011).

2.  The $34BNCorning acquired Israel's MobileAccess for $200MN (Globes, Feb. 2, 2011).   Recent acquisition of Israeli companies: PMC Sierra (Vintegra - $240MN), 3M (Eternity - $230MN), Melanox (Voltaire - $218MN), Roche AG (Medingo - $160MN), IBM (StoreWise - $140MN), Juniper (Altor - $95MN), BroadCom (Percello - $86MN), Oracle (Convergin - $85MN) and DVTel (Ioimage - $80MN).  Riverwood  Capital acquired Israel's Cintec for $110MN (The Marker, Jan. 25, 2010). 

3. Germany's Bayer invested $32MN in Israel's Abogen (Globes, Dec. 14, 2010).  Medical  Intel Capital, India's Nexus Venture Partners, Silicon Valley Bank, Avalon Ventures and 406 Ventures participated a $20MN 3rd round of private placement in Israel's Kaltura (Globes, Feb. 15). Israel's Pluristem raised $36MN in an IPO on NASDAQ (Jan. 31, 2010).  Chicago's MK Capital participated in a $10MN round by Israel's Playcast (The Marker, Jan. 25).  Roll International led a $25MN round by Israel's AspectMR (Globes, Jan. 17).  Azini Capital, Intel Capital, Escalate Capital ad SMAC Capital (Globes, Dec. 14).  Europe's Amadeus Capital participated in an $8MN round by Israel's CellTick (Globes, Jan. 24). 

4.  $1.26BN raised, during 2010, by Israel's high tech companies, 13% above 2009, but 39% below 2008 (Globes, Jan. 18).