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Israel’s high-tech opportunities

Straight from the Jerusalem Boardroom #231

  1. Facebook made its 5th Israeli acquisition, buying Israel’s Redkix for $100MN. Previous Facebook acquisitions in Israel: Snaptu – $70MN, Face.com – $100MN, Onavo – $150MN and Pebbles – $60MN (Globes Business Daily, July 30, 2018).
  2. Salesforce, the San Francisco-based global CRM giant (Customer Relationship Management), signed a definite agreement to acquire Israel’s Datorama for $850MN (Globes, July 18). The NYC-based Warburg-Pincus, a global leading private equity firm, acquired Israel’s Leumi Cards for $684MN (Bloomberg, July 29). The Santa Clara-based cybersecurity Palo Alto acquired Israel’s Secdo for $100MN (Globes, July 12). The UK-based Mimecast acquired Israel’s Solebit Cybersecurity for $88MN (Globes, July 31).
  3. The total exits (58) for the first half of 2018 was $6.22BN, among them: the Milpitas, CA-based KLA Tencor acquired Israel’s Orbotech for $3.4BN; the global Permira Investment acquired the Jerusalem-based NDS for $1BN; Philips, the Dutch multinational technology company, acquired Israel’s EPD Medical for $292MN; the Silver Spring, MD-based United Therapeutics acquired Israel’s SteadyMed for $216MN (Globes, July 12).
  4. Israeli start-ups raised over $650MN in July, 2018 and over $3.7BN during January-July, 2018. 2017 was a record year of $5.24BN (Globes, July 31).
  5. Intel‘s three Israeli research & development centers, and one production plant employ 11,000 persons, in addition to the 1,000 employees of Mobileye, which was recently acquired by Intel for $15.3BN. In 2017, Intel’s export from Israel was $3.6BN.
  6. “Israel brings the stability of developed markets and the outsized growth potential of emerging markets,” according to Steven Schoenfeld, the founder of BlueStar Indexes. “Israel is a [world] leader in GDP growth, debt-to-GDP ratio and demographics. Israel is a home to scores of world-leading companies that otherwise wouldn’t be in investors’ portfolios…. Israel is one of the best performing economies among developed markets…. Israeli tech was up about 28% last year; it’s up 14% this year…. Israel is one of the rare developed economies that has a young and growing population…. Israel is the second-most-vibrant ecosystem after the Silicon Valley. It has the most startups per capita, the most venture capital per capita…. Israel has huge trade relations with India, Latin America, Africa and Asia. More than a third of its trade and investment is coming from Asia…. China wants to play a role in Israel’s industries (ETF.com, July 25).”
  7. Israel’s defense budget was 31.6% of GDP in 1973, 11% in 1991, 6% in 2005 and 5% in 2017 (Globes, July 25).

 




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Israel’s Covid-19 Economic Trends

Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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