Monday, April 23rd | 8 Iyyar 5778

Close

Be in the know!

Get our exclusive daily news briefing.

Subscribe
March 19, 2018 4:09 pm

Another Israeli Hi-Tech Exit: KLA-Tencor Buys Orbotech for $3.4 Billion

avatar by Algemeiner Staff

Email a copy of "Another Israeli Hi-Tech Exit: KLA-Tencor Buys Orbotech for $3.4 Billion" to a friend

The Tel Aviv skyline at night. Photo: Gilad Avidan via Wikimedia Commons.

A deal was reached on Monday for Israeli electronics manufacturer Orbotech Ltd. to be acquired by the California-based KLA-Tencor Corporation for $3.4 billion.

Orbotech is the latest Israeli hi-tech firm to be acquired by an overseas giant, following the likes of Mobileye (by Intel) and Waze (by Google).

Israeli Prime Minister Benjamin Netanyahu hailed the sale, tweeting, “I was happy to hear the company, which employs 2,500 workers, will continue to operate from Yavneh. More good news for Israel’s hi-tech industry and economy!”

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner
  • Abelardy

    Before we all pop the champagne, please explain how selling off Israeli high tech to foreigners help Israel maintain its technological edge against the Arabs and Iran? Who owns this multi-national corp., perhaps a Qatari sovereign wealth fund, or an EU dominated fund? Just asking….

    • angloperuano

      Good question. As I read the article I asked myself the same Q. The US is notorious for sharing secret information. Example: farming out construction of new ‘cutting edge’ air fighter parts to other countries.

Algemeiner.com