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.

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.

Israel-based private equity firm Fortissimo Capital has bought one-third of online professional document translation services provider One Hour Translation in a deal valued at $10 million.

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.

Israeli water meter developer Arad Group is in advanced talks to buy a 50% stake in a Mexican water-measuring company, a Bloomberg report said. The deal is reportedly worth $10 million and is expected to be closed early next year.

Texas-based tech giant Dell announced a new $300-million venture capital fund that will support enterprise technologies, big data, cloud computing, next generation data center, security, and mobility startups.

United States' Hagelin & Co. has been sold to Israeli flavorings and specialty ingredients firm Frutarom Industries for $52.4 million. Frutarom finance the deal through a short-term bank loan.

China-based professional laser equipment manufacturer Han's Laser Technology Co bought Israel-based Nextec Technologies in its effort for expansion amid slow growth in the Chinese laser measurement devices market.

The largest mobile phone operator in Israel, Cellcom, has entered an agreement to share the costs with its two rivals for the creation of a new 4G network, Reuters reported.

The Israeli parliament passed legislation on Monday aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.