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Israeli High-Tech Exits Doubled to a Record $15 Billion in 2014
by Shiryn Ghermezian
Nasdaq was the main venue for Israeli IPOs in 2014 with 67 percent of the offerings. Photo: Wikimedia Commons.
Israel experienced its best-ever year in 2014 for the high-tech and biomed sectors in terms of exits,the Globes business daily reported on Tuesday.
Israeli high-tech exits reached a record $15 billion in 2014, according to figures published by the PwC Israel. The number is double that of Israeli exits in 2013, which totaled $7.6 billion. Exits in 2012 totaled $5.5 billion and the closest year behind 2014 was 2006 when exits came out to $10 billion.
Figures by PwC Israel also revealed that in 2014 there were 70 IPOs, mergers and acquisitions in Israeli high-tech. That number increased from 45 such deals in 2013. There were 18 IPOs totaling $9.8 billion in 2014 compared with the $1.2 billion raised in 2013, Globes reported.
“In 2014, the stars were aligned exactly right for Israeli high-tech,” said Rubi Suliman, a PwC Israel partner and technology leader. “The IPO window was open in the US and UK, the maturity of many Israeli companies and investors, the major availability of money for high-tech from buyers and investors, and of course the strength of Israeli high-tech that knew how to reinvent itself and adapt to the times.”
Israeli mergers and acquisition were worth $5 billion in 2014, according to PwC Israel. The figures went down from $6.5 billion in 2013, showing that more mature Israeli high-tech companies preferred IPOs to being acquired. A total of 52 Israeli companies were acquired in 2014 compared with 39 in 2013.
PwC Israel found that the value of the average deal in 2014 was $212 million, an upgrade from the $170 million in 2013. Nasdaq was the main venue for Israeli IPOs in 2014 hosting 67 percent of the offerings. London’s AIM was second with 28 percent of the offerings and the NYSE hosted 5 percent.
Divided by sectors, semiconductors saw deals worth $5.7 billion in 2014, Globes reported. IT and software came second with $3.08 billion, life sciences with $2.2 billion, internet with $1.8 billion, communications with $1.44 billion, and clean technology with $430 million.
