Haifa-based Followap
Sales of Israeli startups in 2006 reach USD 3.2 billion
Follow-up is latest Israel startup company to be sold; US company NeuStar pays USD 140 million for Israeli high-tech company
Fifty-seven Israeli high-tech companies were sold this year for over USD 9 billion, shows a study conducted by Yedioth Ahronoth through the IVC ONLINE information services.
Followap in Haifa was the latest company to be sold with Boston-based NeuStar paying USD 140 million for the startup.
The company which was set up in 1999 and which employs 160 people develops applications for communications companies.
Other large sales which exceed USD 100 million include Topio which was purchased by Network Appliance for USD 160 million and PowerDsine was acquired by Microsemi for USD 245 million.
Hewlett-Packard paid US 4.5 billion for Mercury in July.
In 2005, foreign companies paid USD 2.4 billion in acquiring Israeli startups. If we exclude big sales, 2006 registered a 33 percent increase in the acquisition of startup companies.
Israeli high-tech companies continue to be successful with investors in Tel Aviv and abroad. Elop enlisted USD 78 million at the NASDAQ this year, Omerix collected USD 40 million at the NASDAQ in April and Teddy Sagi generated USD 460 million when he floated Playtech at the London Stock Exchange.
