CTech’s Sunday Roundup of Israeli Tech News
Cisco in negotiations to sell video unit back to hedge fund for a fifth of the price. Court ruling could see multinationals pay more taxes in Israel
17:5629.04.18
Cisco in negotiations to sell video unit back to hedge fund for a fifth of the price. Cisco bought Jerusalem-based NDS in 2012 for $5 billion from private hedge fund Permira, when the unit was considered a leader in the industry. Following the acquisition NDS’ long-time leaders left one after another, and its main segment, software for the pay-TV industry, came under increased pressure as the industry and Cisco moved to a more internet and cloud-based focus. Read more
Grasshopper. Photo: Hargol FoodTech
Court ruling could see multinationals pay more taxes in Israel. Last week, Israel’s supreme court confirmed a previous ruling that states options provided to Israeli employees as call options must be taken into account when calculating taxable profit. Over 300 multinational companies operate local research and development outposts in Israel, accounting for 50% of the overall investment in research and development in the country. Read more
Grasshopper. Photo: Hargol FoodTech Grasshopper farming startup announces $5 million in orders. Israeli startup Hargol FoodTech is looking to revolutionize commercial farming of grasshoppers for food, and already has companies like Ikea, Whole Foods, and the Guinness brewery interested, CEO says. Read more
Muscle meter for cyclists startup Watteam raises $5 million. Watteam develops an add-on device and mobile app capable of measuring the actual amount of force a cyclist is using, to help enhance performance and prevent injuries. Read more
Pharma company Opko Health retracts decision to delist from the Tel Aviv Stock Exchange. Dually listed on Nasdaq and the Tel Aviv Stock Exchange, OPKO Health first submitted a request to delist from the exchange in early April. The delisting was set to take effect in July. Read more
WeWork raises $700 million in first bond offering, report says. WeWork initially planned to sell $500 million worth of seven-year unsecured bonds with 7.875% yield, but faced higher-than-expected demand. Read more
Where are all the robots? Robotics is set to become a powerful growth theme for the next decade, writes Angus Muirhead, a senior portfolio manager at Credit Suisse. Read more
Chinese automaker Great Wall Motors to implement software update technology by Harman. The technology allows carmakers to remotely update a vehicle’s software. Now a Samsung subsidiary, Harman acquired the technology when it bought Israel-based Redbend in 2015. Read more
Israeli cannabis device developer Kanabo to set up marijuana farm in Europe. To carry out the plan, Kanabo is partnering with San Francisco-Based Cannabis Extract Manufacturer Constance Therapeutics. Read more
