Financial

The competition authority: reduced the fine on Coca Cola israel by 11 million Shekel
1102 Views Details

by Ifi Reporter

Category: Financial

The competition authority decided to reduce the administrative fine it is considering to impose on Coca-Cola Israel for the abuse of monopolistic power and breach of the terms of a merger with Neviot. This emerges from a revised letter of hearing sent today to the Central Bottling Company, which markets Coca-Cola products in Israel. According to the amended version, the Authority decided to retract its intention to impose a fine of NIS 340,000 on the CEO of the distribution company, Nir Levinger.The decision on the amended fine is also subject to a hearing, according to the Authority, for...

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Apr 16, 2019

Sightec announces a $ 2 million seed investment to  develop it's spatial orientation system
790 Views Details

by Ifi Reporter

Category: Financial

Sightec announces a $ 2 million seed investment round from the "Sherpa" "InnoVentures" and "Playfair Capital" funds. The investment will be used to further develop a spatial orientation system based on computer vision and artificial intelligence. The system allows aircraft with full or partial autonomy to orient, navigate, land and perform complex tasks in real time at high accuracy, even when there is a communication limit such as GPS blocks. IAI is among the largest customers of the start-up company

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Apr 22, 2019

The Government will keep on subsidizing nursery schools operating in the afternoon
465 Views Details

by Ifi Reporter

Category: Financial

Prime Minister Benjamin Netanyahu and Finance Minister Moshe Kahlon announced that they agreed to continue subsidizing kindergartens operating in the afternoon at the end of the school day, in the coming school year. The proposal will be submitted for Cabinet approval. The two claimed that a financial source was found for the continuation of the subsidy, but did not provide explanations as to the effect of the subsidy on the expected cuts in government ministries, in light of the growing deficit. Attorney General Mandelblit confirmed on Sunday that the budgets of government ministries...

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Jun 12, 2019

French-Israeli  businessman Patrick Derhey buys Sotheby's for $ 3.7 billion
489 Views Details

by Ifi Reporter

Category: Financial

French-Israeli businessman Patrick Derhey buys Sotheby's, the largest auction house in the art world, for $ 3.7 billion. Sotheby's announced that BidFair USA, owned by communications and telecom entrepreneur Patrick Drahi, will pay $ 57 per share in cash, and Sotheby's will become a private company. This is a 61% upside on the share's closing price last Friday on Wall Street - $ 35.39 per share, reflecting a market value of $ 26 billion before the deal

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Jun 17, 2019

Netflix announced: an increase of 10% in the basic package price in Israel
1038 Views Details

by Ifi Reporter

Category: Financial

Netflix announced on Thursday that it will also raise prices in Israel. The change comes along with price increases in dozens of countries around the world, including France, Italy, Ireland and another 17 countries. At the time of the launch, the company offered three payment plans - the first for about NIS 30, which allows viewing one screen, the other for about NIS 40 for viewing on two screens, and the third and most advanced one, which allowed viewing four screens for NIS 50. Now the basic package price is expected to rise by NIS 3 to NIS 33, the price of the middle package will rise by...

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Jun 20, 2019

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

by Ifi Reporter

Category: Financial

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...

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Jul 3, 2019

 US Bridge Point acquired the Israeli Qualitetest for an estimated $ 420 million
612 Views Details

by Ifi Reporter

Category: Financial

The private US investment fund Bridge Point acquired control of the Israeli Qualitet from another US fund - Merlin Equity Partners; The purchaser announced today. The deal was not disclosed, but market sources estimated it at $ 420 million. The figure represents a multiple of five times for the seller. Qualitast is a software testing and quality assurance company established in 1998 by Eli Margolin and Eyal Zilberman. It is considered the second largest QA company in the world. In recent years, Qualitast has established its software testing activity on automation and artificial...

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Jul 10, 2019

 Bezeq International: 300 employees will leave  the company in the next 5 years
514 Views Details

by Ifi Reporter

Category: Financial

Bezeq International employees signed an agreement with management, according to which over 300 employees will leave the company in the next five years - about 25% of the company's employees. According to the agreement, the cost of the workers' provision will reach more than NIS 50 million. The management will increase the various welfare payments and grant a special bonus to the employees on the basis of the cooperation between the subsidiaries. These are agreements for the voluntary retirement of hundreds of employees. The cuts in Bezeq International are made against the backdrop of a...

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Jul 12, 2019

ICL:  56% improvement in net profit in the second quarter of 2019 -  $ 158 million
450 Views Details

by Ifi Reporter

Category: Financial

ICL Fertilizer and Minerals Corporation reported a 56% improvement in net profit in the second quarter of this year, compared to the same quarter last year, to $ 158 million.The company posted revenue growth of 4% to $ 1.42 billion. Profit was $ 240 million, up 39.5% from the same period last year.The improvement in ICL's revenues and profits was due to an increase in potash sales prices (an increase of $ 23 per tonne on average compared to the same quarter last year), phosphate fertilizers, acids, salts and phosphate-based supplements, along with a rise in prices in most industrial product...

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Jul 31, 2019

US giant Salesforce acquires Israeli software company Clicksoftware for $ 1.35 billion in cash
742 Views Details

by Ifi Reporter

Category: Financial

US software giant Salesforce acquires Israeli software company Clicksoftware for $ 1.35 billion in a cash deal. The biggest beneficiary of the deal is the private equity investment Francisco Partners, after Clicksoftware was sold to the fund for $ 440 million in 2015. Clicksoftware was founded by Moshe Ben Best, but he retired from its current management and became a consultant to the company and a member of the board of directors for a short period. Clicksoftware CEO today is American Mark Cantini, the former CEO of Autotesk joining the company in early 2018. Most Clixoftware employees...

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Aug 7, 2019

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