CTech’s Daily Israeli Tech News Roundup
How the potential net neutrality repeal in the U.S. benefits a company in Israel; a hedge fund’s plans for Mellanox after the surprise investment; and the Israeli tax collector coming after the business hawking rentals on AirBnb
Mellanox board on the chopping block? A senior executive at Starboard Value said that if Mellanox won’t cooperate with its strategy, the hedge would try to replace the board. The activist investor, now Mellanox’s largest shareholder, said the company’s operating expenses are too high. Read more.
Net Neutrality repeal a boon to Allot Communications. The stock price of the Israel-based tech company climbed 4% on Nasdaq Monday, buoyed by news that the U.S. Federal Communications Commission is moving to repeal net neutrality rules enacted during the Obama administration. Read more.
Drones are being used to infiltrate prisons, and there’s nothing the Israel Prison Service can do about it. In February, a drone carrying weapons and materials suspected as drugs infiltrated a prison in the center of Israel, official says. Read more.
London Stock Exchange switches to Israeli AI. The exchange will now receive its analytics from Tel AViv-based Zirra, which uses crowdsourced data, predictive analytics and artificial intelligence to rate and analyse companies. Read more.
Israeli venture capital firm is hemorrhaging partners. Magma Venture Partners loses third partner in a year, say people familiar with the matter. Read more.
Israel to tax Airbnb businesses. Israel has laws that regulate the taxation of businesses operating out of apartments, but currently no local legal framework regulating rentals made via Airbnb or similar platforms. Read more.
Warburg Pincus is looking to acquire Cyren. After buying 21% of the email protection company’s shares earlier this month, New York-based Warburg Pincus announced a tender offer. Read more.
Why is Israel still slipping in the ease of doing business ranking? Daphna Aviram-Nitzan, director of the council of the Israeli Economic Association, weighs in on Israel's business bureaucracy. Read more.
WeWork makes its biggest investment yet. It invested in The Wing, a women-only coworking startup that feels a lot like a high-end members-only social club with an 8,000-person wait-list. Read More
