Invest in Israel : December 2013

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11/2013
Vol. 90
This newsletter is brought to you by Invest in Israel, the Investment Promotion Center at the Israeli Ministry of Economy.
CANTEL MEDICAL ACQUIRES ISRAEL’S JET PREP
INE VENTURES LAUNCHES ISRAELI FUND FOR TECHNOLOGY STARTUPS
MICROSOFT VENTURES INVESTS IN ISRAELI MOBILE COLLABORATION APP ZULA
COVIDEN ACQUIRES ISRAEL’S GIVEN IMAGING
CAREFUSION PURCHASES 40% OF CAESAREA MEDICAL ELECTRONICS 
TOSHIBA TO OPEN FIRST ISRAELI R&D CENTER
3 ISRAELI COMPANIES LAND SPOTS IN TOP 10 OF DELOITTE’S 2013 TECHNOLOGY FAST 500 RANKING
ISRAEL’S GREENSPENSE INSPIRES AUDIENCE AT 2013 CLEANTECH OPEN 
DELL LOOKS TO ISRAEL FOR BIG DATA OPPORTUNITIES
LOCAL COMPETITION INSPIRES NEW MEDIA CREATIVITY
EMERSON BUYS ISRAEL’S APM AUTOMATION SOLUTIONS
ISRAEL’S LIFE SCIENCE COMPANIES TAKE THEIR SHOW ON THE ROAD
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CANTEL MEDICAL ACQUIRES ISRAEL’S JET PREP
U.S.-based Cantel Medical Corp. has acquired Israel’s Jet Prep.  Based in Herzliya, Jet Prep is the developer of the Jet Prep Flushing Device, a novel single-use irrigation and aspiration catheter designed to improve visualization during colonoscopy procedures.  The Jet Prep operation, which will be integrated into Cantel’s Medivators Endoscopy business, will remain in Israel.  Cantel Medical is a leading global company dedicated to delivering innovative infection prevention and control products and services for patients, caregivers, and other healthcare providers.
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INE VENTURES LAUNCHES ISRAELI FUND FOR TECHNOLOGY STARTUPS 

INE Ventures announced the official launch of INE Ventures Fund I, following the Mayor of Philadelphia’s Economic Trade Mission to Israel.  INE Ventures, along with a selection of venture capital partners, will co-invest seed capital in Israeli technology startups. The funds will be earmarked toward relocating portfolio company founders to Philadelphia and New York City, facilitating their penetration of the U.S. market and their development into multinational companies.  Based on the East Coast with offices in New York, NY and Philadelphia, PA, INE Ventures invests exclusively in Israeli technology startups through co-investment partnerships with select Israeli venture capital firms.

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MICROSOFT VENTURES INVESTS IN ISRAELI MOBILE COLLABORATION APP ZULA 
Microsoft Ventures announced a seed fund investment in Zula, an Israeli startup company that streamlines mobile communication and productivity.  Zula’s presentation at TechCrunch Disrupt earlier this year earned it the Audience Choice Award, and also captured the attention of Microsoft Ventures, present at the event.  Zula’s compelling performance reflects its promise as a company on a major growth trajectory, given the innovative solutions it offers to the challenges many technologies face in attempting to facilitate collaboration via mobile devices.
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COVIDIEN ACQUIRES ISRAEL’S GIVEN IMAGING  
The Irish medical device maker Covidien PLC has acquired the Israeli camera-in-a-pill maker, Given Imaging. The acquisition totaled $860 million, calculated at $30 a share.  Given Imaging’s technology is used to visualize, diagnose and monitor the digestive system.  “We believe GI [gastrointestinal] is one of the most attractive specialty procedure areas. Acquiring Given will enable Covidien to significantly expand its presence in a $3 billion GI market,” said Bryan Hanson, group president for medical devices at Covidien.  Given Imaging was formed in 1998 and first won  approval for its miniature camera three years later. Its technology is modeled on a technology used for guided missiles.
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CAREFUSION PURCHASES 40% OF CAESAREA MEDICAL ELECTRONICS  
California-based medical technology developer CareFusion has announced the purchase of a 40% stake in Israel’s Caesarea Medical Electronics for $100m, with rights to further increase its ownership position at a later date. CareFusion makes infusion and syringe pumps which complement the product offerings of CareFusion.  The items produced by Caesarea are used in MRI procedures and epidural anesthesia both in hospitals and at home. CareFusion employs 15,000 people worldwide and has a history of prior activity with Caesarea Medical.

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TOSHIBA TO OPEN FIRST ISRAELI R&D CENTER  
Japan’s Toshiba is set to open its first R&D center in Israel, slated to join more than 250 multinationals with similar operations in Israel. Toshiba’s first Israeli R&D center comes on the heels of its purchase of U.S.-based company OCZ Technology Group’s assets and operations for $35 million. As part of the deal Toshiba will gain OCZ’s R&D centers for micro-controllers and software in Israel and Britain. OCZ established an R&D center in Israel when it acquired Sanrad in 2012 from the RAD group. The Israeli R&D center employs 20 people and is led by former Sanrad CEO Oded Ilan.
3 ISRAELI COMPANIES LAND SPOTS IN TOP 10 OF DELOITTE’S 2013 TECHNOLOGY FAST 500 RANKING 
In its recent ‘Technology Fast 500’ publication, which ranks the fastest-growing public and private technology, media, telecommunications, life sciences, and clean technology companies, Deloitte uncovered the 500 leading companies in revenue growth rate for 2013. The listing revealed three Israeli companies in the top ten, namely, MyThings, Trusteer, and MyHeritage. The five-year revenue growth for the three companies stood at 23,205%, 11,240%, and 9,041%, respectively, earning them their spots in the top 10 fastest-growing companies globally.  
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ISRAEL’S GREENSPENSE INSPIRES AUDIENCE AT 2013 CLEANTECH OPEN  
The 2013 Cleantech Open Global Ideas Competition, the world’s largest clean-technology accelerator, held its fifth annual competition earlier this month in Palo Alto, California. The competition brings early-stage startups with breakthrough cleantech ideas to Silicon Valley to compete for the Global Ideas Prize. 28 national finalist teams from around the world faced off at the Cleantech Open Global Forum, following an earlier initial round of competition. Five companies were selected as finalists, with Israeli GreenSpense awarded second place for its development of a propellant-free continuous dispensing technology. The breakthrough cleantech innovation eliminates gas from aerosol containers, enabling reduced costs and eco-friendly packaging.

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DELL LOOKS TO ISRAEL FOR BIG DATA OPPORTUNITIES
Dell has launched a new venture capital fund worth some $300 million and will be focusing its efforts toward facilitating the development of entrepreneurial companies in Silicon Valley, Boston and Israel. The Strategic Innovation Venture Fund will target early-to-growth stage companies in emerging technology areas including storage, cloud computing, big data, next-generation data centre, security and mobility. By focusing on connecting with entrepreneurs at promising companies across these vibrant tech locations, Dell hopes to help customers keep up with the latest trends in the industry.
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LOCAL COMPETITION INSPIRES NEW MEDIA CREATIVITY 
In an event held last month in collaboration with Google Israel-YouTube, the Israel Film and Television Producers Association, and the Investment Promotion Center at the Israeli Ministry of Economy, some of Israel’s top content creators had an opportunity to showcase their talents and vie for a monetary prize and trip to Google’s London YouTube offices. “MADE for WEB: Innovative Creation in the Digital and New Media Age,” brought together competitors from across Israel’s new media and film industries, seeking to introduce innovative solutions to web-based video production and distribution. Following a conference on web innovation in July, the recent event allowed some 150 content creators to submit videos for participation in the competition, with prizes awarded in four different categories.

EMERSON BUYS ISRAEL’S APM AUTOMATION SOLUTIONS  
U.S. manufacturing and technology giant, Emerson, has announced the purchase of Israeli APM Automation Solutions. Emerson, which employs some 132,000 employees and operates 230 manufacturing locations worldwide, made the purchase as part of its efforts to augment Emerson Process Management’s measurement instrument portfolio. The acoustic imaging and 3D-mapping technologies created by the Israeli companies help operators accurately measure solids for improved process and inventory control.  The purchase is expected to result in the establishment of Emerson’s first R&D center in Israel, which is expected to expand APM’s current roster of 30 employees. Currently, Emerson has a market cap of $48.1 billion on the New York Stock Exchange and its annual sales are valued at $24.4 billion.

The sale of APM, which was started with initial funding from the Israeli Ministry of Economy’s Chief Scientist office, is generating a high return for investors, the deal reportedly worth tens of millions of dollars following an initial $10 million investment.

ISRAEL’S LIFE SCIENCE COMPANIES TAKE THEIR SHOW ON THE ROAD  
A delegation of eight select life sciences companies traveled earlier this month to the U.S. in an effort organized by the Investment Promotion Center at Israel’s Ministry of Economy. Showcasing some of Israel’s most innovative technologies in the sector, the five-day roadshow spanned six cities across the continental U.S. and gave potential investors and partner companies an opportunity to get a glimpse into some of the most up-and-coming technologies emerging from within Israel.

Israel’s Life Sciences industry is internationally regarded for its accomplishments, with a host of leading Life Science companies having made significant investments in the country and its life science firms.

 

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