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In a significant turn of events, sthe Electric Company announced the cancellation of the tender for the purchase of the Eshkol power plant in Ashdod. The tender was a pivotal part of the government's ambitious plan to privatize the electricity sector, but it encountered unforeseen challenges. During the bidding process, one of the bidders, the Dalia Group, put forward an impressive offer of over NIS 12 billion for the power station, surpassing all expectations. However, it was later revealed that the winning bidder was unable to fulfill the terms of the deal, creating an uncertain...

The wave of layoffs in the economy is expanding. High-tech companies are not the only ones that are laying off workers, and it turns out that other companies on the fringes of technology are also parting ways with hundreds of workers. The Bezeq management signed a collective agreement with the representation of the 3,000 employees of the subsidiaries Pelephone and Bezeq International - the parties announced. Along with enshrining various benefits for employees, including general wage increases and unique wage increases for low wage earners, it was agreed that within the framework of the...

SAP announced the launch of its first SAP.iO Foundry for Tel Aviv. The Tel Aviv location is designed to help and support early stage business-to-business (B2B) startups build innovative software and deliver high value for SAP customers. The 12-week startup accelerator program commences in July 2019 and will comprise of up to 10 start-ups focused on deep technology and the intelligent enterprise to deliver incremental value to SAP’s customers. The official announcement was made on the main stage at OurCrowd Summit 2019, Jerusalem, by Ram Jambunathan, senior vice president and managing...

The Insight Investment Fund reported tonight that it has signed a deal to buy Cyber ​​Armis startup at a value of $ 1.1 billion. The deal is in cash, and is done in partnership with the CapitalG Foundation, which will pay $ 100 million of the amount. Some of Aramis' existing shareholders will continue to hold shares in the company. The deal is expected to close in February. This is the largest cyber exit ever for an Israeli private company. In 2013, IBM bought Trestir for $ 800 million, and in 2019, Palo Alto Networks acquired Demisto for $ 560 million. After the acquisition, Armis will...

Minister of Economy and Industry Eli Cohen and Minister of Economy and Digitalization of Austria, Dr. Margaret Schrambeck, signed today with Austrian President Dr. Alexander Van Der Bellen and Austrian Minister of Education Dr. Heinz Fasmann ), a Memorandum of Understanding to promote the creative economy, which is the first of its kind to develop an additional path of innovation for the growth of the Israeli economy

Space-x successfully launched Israeli "Amos 17" satellite on the Falcon 9 launch carrier tonight. The launch was initially planned for the night between Saturday and Sunday, but was postponed due to a launcher valve failure. In a rainy weather area and the launch window tonight was postponed for half an hour following a lightning storm that occurred several hours before the launch. The launcher on which the satellite is stationed has been launched twice into space in the last two years and since it is his last mission - and it will not be recycled again - the amount of fuel is higher than...

Israel Aerospace Industries (IAI) has announced its strongest first quarter in history, boasting impressive financial figures despite ongoing conflict. The company's order backlog stands at approximately $19.1 billion, representing a significant milestone in its operations. Financial Highlights: IAI reported a 48% increase in net profit to approximately $135 million, alongside positive cash flow from current operations totaling approximately $1,780 million. Sales volume saw a substantial increase to approximately $1,432 million, reflecting the company's robust performance in...

The Harel insurance group was selected by Japan's largest insurance giant Tokyo Marine Holidings to cooperate in locating Israeli high-tech companies in the fields of innovation and digitalization. According to the agreement, the Harel Group and Tokyo Marine will act to locate Israeli companies engaged in innovative technologies and services, and the Harel Group will have access to Tokyo Marin's leading technology infrastructure. The collaboration was led by the Deloitte consulting firm. Japan's Tokyo Marin Group is one of the leading insurance companies in the world. The company was...