Big tech acquisitions seen surging in Israel
Dealogic data shows a sharp rise in the acquisition of tech firms in Israel. Since 2012, nearly USD4 billion worth of acquisitions have been registered. Google, Intel, Cisco, IBM, and Apple are among the high-profile companies that have scoured the country for tech acquisitions. This was according to a report published by CNN.
According to Microsoft executive director Zack Weisfeld gave an estimate of the buyouts in the Middle Eastern country. Weisfeld said around USD13 billion worth of tech acquisitions have been done since the beginning of 2012, the report stated.
There are several factors that contribute to the growing role of Israel in the tech industry. For one, the Israeli government requires people to join the army after high school. There, they gain exposure to advanced communication, defense, and other technology systems. Another factor is the enthusiastic support of the government for Israeli startups. Since the 1990s, the government has continued to offer grants and loans for tech startups and research and developments.
A combination of these factors has helped push Israel to become one of the global players in the tech arena, CNN reported.