M&A News

AOL to buy Israeli start-up 5min

Tuesday, September 28th, 2010

by  Noa Parag

US Internet giant AOL is buying Israeli start-up 5min, according to technology blog All Things Digital. The value of the deal was not reported but estimates are that it was up to around $65 million. A formal notice of the acquisition is expected today. The company declined to comment. 5min was founded in 2007 by Ran Harnevo, who serves as chairman; Tal Simantov, chief marketing officer; and Hanan Laschover, chief technology officer. 5min is a platform for instructional videos in all kinds of fields that enables people to share their knowledge by uploading videos lasting up to five minutes. 5min has raised $13 million to date, reportedly from venture capital funds Spark Capital and Globespan Capital, along with private investors. The private investors include Nehama Karpol, Ofer Lazovski, and advertising agency Adler Chomsky’s Grey Interactive Israel. If the deal does go through, it will be AOL’s fifth acquisition in Israel. http://www.globes.co.il/serveen/globes/docview.asp?did=1000590822&fid=1725

Lightech acquired for $18.5m by Canadian co

Sunday, September 26th, 2010

by Shmulik Shelah

LED company Lightech Electronic Industries Ltd. has been acquired by Vancouver-based Carmanah Technologies for $18.5 million. Carmanah agreed to buy all Lightech’s outstanding shares. Lightech, based in Lod and founded in 1992 by David Schreiber, designs drivers and transformers for use in LED and halogen lighting which it manufactures in China. http://www.globes.co.il/serveen/globes/docview.asp?did=1000590489&fid=1725

ODF to go public

Wednesday, September 22nd, 2010

by Assaf Gilad

Tel-Aviv based start-up company ODF Optronics is on its way to the Tel Aviv Stock Exchange, Calcalist has learned. The company develops surveillance systems that create real time video images, and is currently drawing up its prospectus in preparation for its upcoming initial public offering, planning to raise NIS 30-40 million (about $8-10 million) in capital with the company valued at NIS 150-160 million ($40-43 million). The company has started discussions with several underwriters, however, the IPO will probably be led by Analyst Underwriting along with other underwriters. The company plans to go public before the end of 2010. http://www.ynetnews.com/articles/0,7340,L-3957054,00.html

Google buying Israeli startup: Quiksee

Monday, September 13th, 2010

by Guy Grimland

Quiksee, also known as MentorWave Technologies, allows users to create location-based interactive media content. Its web-based content, the company says, “lets you quickly and easily create stunning virtual tours.” Two investment groups have put $3.5 million into Quiksee, Ofer Hi-Tech and Docor International, while a number of private investment “angels” have also backed the firm. The deal is estimated at $10 million. http://www.haaretz.com/print-edition/business/google-buying-second-israeli-startup-quiksee-1.313483