CTech’s Tuesday Roundup of Israeli Tech News

Palo Alto Networks to acquire cybersecurity startup Secdo. Palo Alto Networks bought Israel-based Secdo for $100 million, according to a person familiar with the deal. Read more

 

WeWork scuttles plans to raise funds in Israel. The onerous financial review required by Israeli authorities and investors led the coworking space provider to give up on the country’s capital markets, according to people familiar with the matter. Read more

 

Satellite operator Spacecom aims to raise $110 million with the offering of collateral bonds and bond options. Of the sum, $50 million will be used to cover some of the costs of its new satellite, AMOS-8, intended to replace a satellite lost at a pre-launch explosion in 2016. Last month, Spacecom contracted California-based SSL to build AMOS-8. Currently, Spacecom does not have the necessary funds to finance the $112 million deal. Read more

 

Medtronic acquires medical visualization company Visionsense for $65 million. The medical device developer intends to integrate Israel-based Visionsense's operations into its own activities. Read more

 

WeWork to launch accelerator program in Israel in June. Tel Aviv will host one of 25 outposts of WeWork Labs planned for cities around the world. Originally introduced in 2011 before disappearing from the radar, WeWork Labs’ relaunch was announced in February. The program supports early stage entrepreneurs through courses, mentorship, and by facilitating collaborations with other startup incubators and accelerators. Read more

 

Futuristic pod-to-meal startup raises $10 million. Israeli food tech startup Genie develops “ovens” it says can cook restaurant-grade meals in 2-3 minutes from pods containing freeze-dried foodstuff. Read more

Israeli insurer Phoenix Holdings invests in struggling drone maker Aeronautics. Phoenix now owns a 5.18% stake in Aeronautics, whose value declined by 50% since its June 2017 IPO. Read more

 

Nike acquires Israeli computer vision startup Invertex. Invertex’s technology allows customers to scan their bodies and get size recommendations for shoes and clothes. Read more

 

Karamba Security, which protects autonomous cars, raises $10 million in debt financing. The Israel-based startup’s technology integrates with a vehicle's engine control unit, automatically blocking unauthorized commands. Read more

 

Nutritional data startup Nutrino raises $8 million. Israel-based Nutrino operates a database with information on eating habits of millions of users, used by companies in industries such as food and beverage, digital health, and fitness. Read more

 

Teva and Rimsa settle lawsuit over $2.3-billion plant. Teva acquired the Mexican plant in 2016 but shut it down immediately, citing discrepancies between Rimsa's regulatory filing and the actual assets, and filed a suit against the former owners. Read more