
CTech’s Monday Roundup of Israeli Tech News
As self-imposed acquisition deadline grows near, Orbotech’s stock continues downturn; Communication chips company ColorChip to lay off 50% of employees
CTech | 14:55, 24.12.18
As self-imposed acquisition deadline grows near, Orbotech’s stock continues downturn. Consumer electronics company Orbotech’s stock fell 9.12% since the beginning of the month, reaching $54.7 just over a week before its acquisition by KLA-Tencor was expected to be finalized. Read more
Communication chips company ColorChip to lay off 50% of employees. In August, Calcalist reported that the Israel-based company was negotiating an acquisition by Chinese chip designer and manufacturer Sanan Optoelectronics. Read more
Novartis invests $10 million in anti-cancer company Ayala Pharmaceuticals. The investment is part of a licensing option agreement signed between the two companies. Read more
Israel to demand tax report amendments from local outposts of tech multinationals. The decision comes following an April supreme court ruling affirming that options given to employees are wage-equivalent and should be calculated under labor costs. Read more
Highly competitive cybersecurity industry lands Israeli employees with most stock options. Israeli cybersecurity companies allocate between 10% and 15% of their stock to employees, while telecommunications will allocate around 8% to employees. Read more
China awards Israeli startup second prize in an innovation competition. Newsight Imaging develops chips containing 3D imaging sensors for robotics, drones and the automotive industry. Read more
News briefs
Blood testing startup Sight raises $28 million. Read more NDTV renews Taboola contract for five years. Read more Marketing strategy startup KonnecTo raises $1.5 million. Read more
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