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June 4, 2018 10:47 am

Global Business Buys in May Validate ‘Startup Nation’

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Participants at the DLD Tel Aviv Digital Conference, Israel’s largest international high-tech gathering, held at the Old Train Station complex in Tel Aviv on Sept. 6, 2017. Photo: Miriam Alster/Flash90. – Major international acquisitions of Israeli companies in May reaffirmed Israel’s moniker as the “Startup Nation.”

Some of the Israeli companies that were sold last month, as reported by ISRAEL21c, include:

Frutarom, the Haifa-based fragrance and flavor company purchased by International Flavors & Fragrances of New York for $7.1 billion.

BriefCam, the Modi’in-based video review, search and analysis tech pioneer purchased by Japanese imaging and optical products giant Canon.

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Velostrata, the Netanya-based workload cloud migration company purchased by Google.

Avgol Industries, the Tel Aviv-based manufacturer of ultra-lightweight non-woven materials for the hygiene industry now majority-controlled by Bangkok’s global chemical producer Indorama Ventures.

According to Central Bureau of Statistics numbers released at the end of May, there were 4,362 functioning startups in Israel by the end of 2016 that employed 27,500 people.

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