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by Reuters and Algemeiner Staff
Cars drive on a highway as a train enters a station in Tel Aviv, Israel, Nov. 25, 2018. Photo: Reuters / Corinna Kern.
The value of mergers and acquisitions in Israel in 2019 fell 6 percent to $20.4 billion though the number of deals rose 34 percent to 166, according to a report released by Pricewaterhouse Coopers on Monday.
The value of deals in 2018 was boosted by the acquisition of Frutarom by International Flavors & Fragrances for $7.1 billion.
PwC Israel said the value of “mega deals” in 2019 was more modest, highlighting the Orbotech acquisition by KLA-Tencor Corp for $3.4 billion and of Chevron North Sea by Delek Group for $2 billion as prominent deals this year.
High tech led with $9.1 billion in deal value.
“The Israeli M&A market is not showing any signs of slowing down,” PwC Israel partner Liat Enzel-Aviel said.
She noted that Nvidia’s acquisition of Mellanox, Intel’s purchase of Habana Labs and Baring Private Equity Asia’s acquisition of Lumenis — with a combined value of about $10 billion — are all expected to close in early 2020.
