Yoni Assia, CEO of eToro, speaks before ringing the opening bell to celebrate the company’s IPO on Nasdaq, in New York City, US, May 15, 2025. Photo: REUTERS/Brendan McDermid

Appetite for Israeli technology innovation has remained undiminished this year, with a surge in acquisitions and IPOs led by Alphabet’s $32 billion purchase of Israeli cybersecurity company Wiz, PwC Israel said on Monday.

The consultancy said in a report that such deals jumped by 340% to nearly $59 billion, from $13.4 billion in 2024. Excluding the Wiz deal, the value of transactions doubled to $32 billion.

There were seven IPOs with a combined valuation of $14.6 billion, up from the $781 million total achieved with six listings in 2024, demonstrating strong investor demand despite Israel’s two-year war against Palestinian terrorist group Hamas.

PwC noted a decline in medium-sized deals between $100 million and $500 million, but more small and larger deals.

There were six acquisitions above $1 billion this year, including fintech firms Next Insurance (bought for $2.6 billion) and Melio ($2.5 billion), with Nasdaq listings for Navan and eToro at valuations of $6.2 billion and $4.4 billion respectively.

Yaron Weizenbluth, a partner and head of audit in PwC Israel, said that while more tech entrepreneurs and managers have relocated operations overseas, many companies still rely on the “unique talent in Israel.”

“The Israeli market has demonstrated an incredible ability to adapt and close gaps in the past; the potential for value creation is immense,” he said.