Exits in the first half of 2019 totaled $ 14.48 billion in 66 deals

Exits in the first half of 2019 totaled $ 14.48 billion in 66 deals, including the acquisition of Ananeda by Mellanox (a deal of $ 6.9 billion not yet completed). Without the Mellanox deal, the total amount of exits in the first half of the year was $ 7.58 billion, according to the IVC research report and the firm Meitar for the first half of 2019.
Compared to the first half of 2018, the number of exits decreased slightly from 73 to 66 this year. On the other hand, the average value of the exit rose to $ 116.6 million without the Mellanox deal, and almost doubled compared to $ 63 million in 2018.
An increase was also recorded in the exits multipliers (the distribution of exits in the amount raised by the companies until the transaction): in the first half of 2019 the average value of exit was 3.9, compared with 2.91 in 2018. The average of the exit multiplier in companies that are not backed by capital-risk companies climbed to 13.65, while the average of the exit multiplier in VC-backed companies rose to 3.7 compared to the results since 2015. On average, the exit multiplier in the first half of the year increased, reflecting improved investment efficiency in high-tech companies Israeliness.
The report also includes four IPO public offerings completed in the first half of 2019, including Fiverr and Tufin, which raised significant amounts in a public offering in the US.
 Adv. Itay Frishman, a partner at Meitar Liquornik Geva Leshem Tal & Co., referred to the issues: "The two successful issues in the US may encourage other Israeli companies to examine the first public offerings as an exit channel."
"The IVC-ZAG fundraising report, which summarized 2018, indicated that Israeli high-tech recorded six consecutive years of growth, totaling $ 6.4 billion in 623 transactions in 2018, an all-time high. Make bigger exits.
Despite the increase in exits, it is still too early to say whether this is a long-term trend. Acquisition transactions depend on the existence of buyers who are able to execute them and the larger the volume of transactions, the fewer buyers. However, a reason for optimism for investors is the fact that new and surprising buyers are joining this pool.