nocamels: Israeli high-tech and startup companies were sold for a whopping $10.02 billion in 2016 – to other companies or through initial public offerings (IPOs) – according to a report released today by IVC Research Center and law firm Meitar Liquornik Geva Leshem Tal.
The figure reflects a 12 percent increase over 2015, primarily due to the acquisition of social gaming company Playtika for $4.4 billion. In one of the largest “exits” in Israel’s history, a consortium of Chinese companies led by Shanghai Giant Network Technology, one of China’s largest online gaming companies, acquired Playtika from Caesars Interactive Entertainment.
According to the IVC-Meitar High-Tech Exits Report, Israeli startup companies closed 104 deals last year. The figure includes 93 mergers and acquisitions totaling $8.8 billion (including the Playtika deal), eight buyouts that generated $1.22 billion, and three small IPOs garnering $15.1 million.
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