Intel “Missed Opportunities” in Israel, Will Expand Operations
Intel Capital has revealed plans to expand its branches in Israel in order to develop more returns on its investments, reported Reuters.
“We realized we have missed opportunities here,” said Marcos Battisti, Intel Capital’s managing director for Israel and Western Europe. “We will be more aggressive.”
Intel, one of the world’s leading chipmakers, already has two plants and four development centers in Israel, with a total of over 8,000 employees. Since 1996, Intel’s global investment firm has invested in more than 60 companies inside Israel which have been acquired by other companies, including Anobit – (bought by Apple), Passave (bought by PMC-Sierra), and Gteko (bought by Microsoft). In October of 2011, Intel also acquired Telmap, an Israeli company manufacturing mobile navigation software.
Although Israel’s investment returns for Intel have been in the double digits over the past five years, Intel seeks to expand its operations to gain even higher numbers. “It’s not as good as it could have been,” explained Battisti. He also added that while the investment returns in Western Europe were in the “high double digits”, the Israeli market is lagging behind.
Intel Capital, on average, invests $300-$500 million annually.