The $570 million debt settlement offer that will give control of Israel's IDB Holding Corp to Argentine businessman Eduardo Elsztain was approved by a court in Tel Aviv, Bloomberg reported.
Israel
Israel's Teva Pharmaceutical Industries names Erez Vigodman as CEO
The world's largest generic drugmaker, Teva Pharmaceutical Industries Ltd, has chosen Erez Vigodman to become its President and Chief Executive Officer beginning February 11, Bloomberg reported.
Tel Aviv social review engine Yotpo closes $10.7M in Series A round
Tel Aviv, Israel-based social review engine Yotpo raised $10.7 million in a Series A funding round led by US-based venture capital firm Blumberg Capital to expand its office in San Francisco.
Israel to split up conglomerates and address inequality
The Knesset or the Israeli parliament has voted to approve the dismantling of the corporate conglomerates in the country to overhaul the economy and address the issue of inequality.
Israel's OneHour Translation secures $10M in Series A from Fortissimo Capital
Israeli startup OneHour Translation raised $10 million from venture capital firm Fortissimo Capital for its Series A funding round. Proceeds will be used to continue with the firm's international growth.
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Herzaliya, Israel-based National ID Electronic Intelligence solutions provider SuperCom announced the completion of its purchase of the Smart ID division of On Track Innovations.
The rising use of mobile computing has prompted the development of fresh technology startups around the world as international entrepreneurs hope to get a share of the markets for tablets and smartphones, the Financial Times reported.
TheMarker, a financial news website, said generic drugmaker Teva Pharmaceutical Industries is set to name Erez Vigodman as its new Chief Executive on January 13 at the JPMorgan Healthcare Conference in San Francisco, Reuters reported.
Fortissimo Capital, a private equity fund, won the bid for Israel-based Eshbel with NIS 192 million after the software company was put on the auction block.
Oramed Pharmaceuticals Inc was able to secure $13 million from Special Situation Fund and Sabby Capital Healthcare, according to a report on Globes which cited sources.
Infinity Group, a private equity firm based in China, announced its investment of $4.2 million in Israel-based biotechnology firm BotanoCap, a developer of green solutions for various industries.
California-based firm Zimperium has raised $8 million in a funding round led by Sierra Ventures to develop its mobile technology that helps protect WiFi network users from hacker attacks.
Israel-based public transit app Moovit has closed $28 million from a funding round led by Sequoia to improve its service that gives commuters a real-time perspective of the best public transportation routes.
The Tel Aviv District Court has cleared Eduardo Elsztain and Moti Ben-Moshe's rescue plan for highly indebted conglomerate IDB Holding Corp. The partnership's takeover bid has won support from IDB's bondholders and creditors this month.
