JERUSALEM (Reuters) — Israeli high-tech firms recorded exits totaling $3.3 billion in the first half of 2016 and are on track to be close to the $7.4 billion from all of 2015, a survey showed on Tuesday.
The average exit of the 45 deals was $74 million, according to the IVC Research Center and law firm Meitar Liquornik, which noted that there was a drop in the number of deals in the January-June period due to global decline in capital raising, particularly in the United States and China.
There were another four private equity buyouts accounting for $878 million and one initial public offering that raised $5.9 million.
The largest deals were the $811 million acquisition of EZchip by Mellanox and the $643 million private equity buyout of Xura.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
The survey noted that by the end of 2016, at least 100 exit deals worth $7 billion will have closed, 13 percent below the proceeds generated by 111 deals in 2015.
(Reporting by Steven Scheer)
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More