Ambassador (ret.) Yoram Ettinger, “Second Thought: a US-Israel Initiative”
Straight from the Jerusalem Boardroom #194, May 16, 2014
http://bit.ly/1g9yQBX
1. Intel is investing, additional, $6bn in its Israeli research & development centers and manufacturing plants, which currently employ 9,800 persons, expecting to add 1,000 employees, mostly in R & D. The current $3.5bn annual export by Intel – out of Israel – is expected to rise by $1bn-$2bn annually. Intel’s annual operation cost in Israel is $1bn (Globes Business Daily, May 1, 2014). The California-based pharmaceuticals giant, Hyperion, is acquiring Israel’s Andromeda for $570mn, which consists mostly of milestone payments (Globes, April 25). Pratt & Whitney (a subsidiary of the $108bnUnited Technologies) acquired 51% of Israel’s Lehavim – thus controlling 100% of the company – for a few hundred million dollars (Globes, May 2). Germany’s media tycoon, Axel Springer, acquired Israel’s Yad2 for $230mn (Globes, May 8). The San Diego-based giant,Qualcomm, is expected to acquire Israel’s Wilocity for $300MN. Currently, Qualcomm owns 13% of Wilocity, along with the Silicon Valley’s Tailwood Venture Partners (19%), Benchmark Capital(19%) and Sequoia Capital (19%), Cisco (4%), etc. (Globes, May 12). Read more…