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Israel Investment News - November, 2006

FDI JAN-OCT REACHES RECORD $9.3B (11/2006)

FDI from Jan-Oct exceeds last year's previous record by 65%

Foreign investment reached $696 million in October, of which $471 million was direct foreign investment. The Israel economy saw a 72% increase in foreign investment from January October over the whole of last year. Foreign investment in Israeli marketable securities for the same time period also rose to $8.24 billion, 6.4 times higher than the whole of 2005.


IMF: "THE FOUNDATION FOR CONTINUED REAL GDP GROWTH OF 4 PERCENT OR MORE IN 2007 IS STRONG" (11/2006)

An IMF delegation to Israel gives favorable Preliminary report

An IMF delegation spent two weeks in Israel in order to prepare a report on Israel's economic situation. The preliminary report indicates that the Israeli economy is functioning well based on "a major improvement in economic policies and enhanced policy credibility" and the fact that "inflationary pressures are subdued and the country is attracting record foreign investment." In order to further improve the economy, the report recommends concentrating efforts on reducing public debt and adopting a long-term economic strategy.


AOL ACQUIRED RELEGENCE FOR AN ESTIMATED $50-$100M (11/2006)

AOL's previous acquisition in Israel was of Mirabilis, creator of ICQ, the first online instant messenger, for $406m

AOL, a global Web services company and daughter company to international media conglomerate, Time Warner, acquired financial news and information search technology company, the Relegence Corporation. Relegence's technology will allow AOL to provide comprehensive and timely searches on professional financial information. Relegence's propriety technology places real time tailored financial information, news and knowledge in the hands of professional end users moments after it is published.


DATA STORAGE GIANT, NETWORK APPLIANCE BUYS TOPIO FOR $160M (11/2006)

Acquisition is the company's first in Israel

Network Appliances, a world leader in unified storage solutions with revenue of $2.07 billion, has acquired Topio, provider of enterprise-class software for data replication and rapid disaster recovery. The combination of Topio's software with NetApp's data management software will enable enterprises to replicate production data from various suppliers' systems to any NetApp storage system, without disrupting working processes, and with maximal storage efficiency.


GE HOSTS "ISRAELI TECHNOLOGY" EVENT (11/2006)

Delegation of 20 Israeli companies and GE examines collaboration

General Electric Global Research invited Israeli companies active in the fields of water, life sciences and homeland security to present their technology in order to investigate investment opportunities. With a total R&D budged of $3.5 billion, GE Global Research is one of the largest industrial research labs and has a presence that spans the globe.


PROMEDICAL CAPITAL GROUP TO INVEST $100-$150 MILLION IN ISRAEL (11/2006)

Fund to focus on Israeli medical device companies in their early stages

Having made already previous investments in three Israeli companies: Althera Medical Ltd. (developer of innovative Cancer Radiation Therapy), HDH Medical Ltd. (specializing in suture-less surgical repair of blood vessels) and Endogun Medical Systems Ltd. (focusing in laparoscopic device for tissue attachment), Promedical's five managing partners visited Israel to further investment opportunities. Managing partner, Professor Jacob Dagan said, "There are some excellent ideas here. We noticed that both in privatized incubators and in the companies themselves people are making amazing progress within a shorter timeline and at lower budgets than in the US . . . Israel has a strong academic framework, first-rate medical centers and incubators that help to set up companies worth investing in."


NEW QUAD-CORE TECHNOLOGY DEVELOPED BY INTEL ISRAEL (11/2006)

Intel expects the Israeli developed quad-chip increase profits and gain greater market share

Intel's design center in Israel, which has developed many of the company's core products, incl. Centrino, designed the quad-core microprocessor to allow for more efficient energy usage, enabling the computer to multi-task more effectively with multimedia or gaming applications. Starting its operations in Israel with only 5 employees, Intel now has 6,000 and is set to hire an additional 1,500 and open a new development center


NASDAQ INTRODUCES ISRAELI EQUITIES INDEX (11/2006)

Index includes 73 Israeli companies, with combined market capitalization of $50B

With the greatest number of companies on the Nasdaq, outside of the US, the Nasdaq Israel Index will be calculated and disseminated on a price return basis under Nasdaq ticker symbol "ISRQ" and a total return basis under the Nasdaq ticker symbol "ISRX." Nasdaq Executive Vice President stated, "The companies in this index have played a critical part in Israel's increasingly influential role in key sector of the global economy."


APAX PARTNERS WON TNUVA TENDER FOR $1.04 BILLION (11/2006)

Tnuva looking to enter the international market with backing by Apex

Apax, one of the world's largest private equity firms, with $20 billion under its management is purchasing at least a 51% stake in Tnuva, Israel's biggest food producer. Tnuva will continue to be a cooperative association under Apax's control. Apax, one of the world's largest private equity firms, with $20 billion under its management is purchasing at least a 51% stake in Tnuva, Israel's biggest food producer. Tnuva will continue to be a cooperative association under Apax's control.


LSI LOGIC ACQUIRES ISRAELI STORAGE FOR $50M (11/2006)

Israeli site to function as LSI's R&D center

LSI Logic Corporation, leading provider of silicon, systems and software solutions for the storage and consumer markets acquired Israeli startup, StorAge. Abhi Talwalkar, LSI Logic president and CEO, stated "We are excited to add the significant capabilities of the StoreAge product portfolio." Storage develops products that manage storage solutions in a uniform manner, protect them, and enable low-cost business continuity and disaster recovery.


KAZAKHSTAN GOVERNMENTAL FUND INVESTS $10 MILLION IN ISRAELI VC (11/2006)

Investment is one of Kazakhstan's first in Israel

The government owned National Innovation Fund is investing $10 million into Israeli Vertex's third fund in two stages. Kazakh's Deputy Prime Minister, Karim Massimov, recently visited Israel in order to deepen bilateral trade-economic and science-technical cooperation.


INTEGRATION SOFTWARE GIANT, INFORMATICA, ACQUIRES ISRAELI STARTUP, ITEMFIELD FOR $50 MILLION (11/2006)

Acquisition is Informatica's first in Israel

Informatica, with a market value of $1 billion, acquired ItemField, a leading provider of data transformation software. Itemfield, which will act as the Informatica's R&D center, develops software for complex data transformation. Itemfield's technology, transforming content from one software platform to another, aims to enable integration of different specialized business partners and internal processes for increased agility and business efficiency at reduced costs.

Source: Israel Ministry of Industry, Trade and Labor - The Investment Promotion Center


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