Cisco and Facebook Expand Operations in Israel
June 23, 2012
Cisco and Facebook demonstrate confidence in the long-term viability of Israel’s economy.
1. Cisco’s CEO, John Chambers in Jerusalem: “We’ll expand here soon…. There are a lot of opportunities here. It’s the second country, after the US, in terms of start-ups and entrepreneurship. There are companies here that do not grow enough, and what we do is to bring these companies into the Cisco family and grow their activity. I don’t think that there is a better time to invest here, in partnerships, venture capital, and help our partners expand…. (In March, Cisco acquired NDS, a London-based company with its development center in Israel, for $5 billion). “When we also have the NDS base in Israel, we can enter fields such as security…. Although NDS’ headquarters are in Britain, its heart and soul are in Israel…. This is a country whose leaders and entrepreneurs I believe in. I believe that it’s possible to find a successful formula for both sides…. Cisco and the Israeli government have set up a joint team to examine ways of expanding their collaboration (Globes Business Daily, June 21, 2012).”
2. Cisco Systems Israel is Cisco’s 2nd largest design center outside the United States with over 750 employees, including 500 research and development engineers. Cisco’s Israeli acquisitions: May, 1998 – ClassData, $50MN; March, 2000 – InfoGear, $300MN; April, 2000 – PentaCom, $118MN; April, 2000 – Seagull, $19MN; June 2000 – HyNEX, $127MN; March, 2004 – RiverHead, $39MN; June, 2004 – Actona, $100MN; August, 2004 – P-Cube, $200MN; September 2005 – San Jose’-based Israel’s Sheer Networks, $97MN; March 2012 – London-based (Israel-based R&D center) NDS, $5BN (Globes, June 21).
3. Facebook acquired Israel’s Face.Com for $50MN-$100MN, its second Israeli acquisition, following the March 2011 acquisition of Snaptu for $70MN (Globes, June 20).
4. Lars Christensen, founder and CEO of Denmark’s Saxo Bank – the second largest foreign exchange broker in the world – which has recently entered the Israeli market: “We’ve identified a long term potential in the Israeli market, especially due to Israel’s competitive edge in the area of technology.” In July, 2011 Saxo Bank acquired 25% of Israel’s Leverate and 100% of the activities of Israel’s Lembex Trading and Investment
http://www.theettingerreport.com/Overseas-Investments/Cisco-and-Facebook-Expand-Israel-Operations.aspx
Similar posts
-
Israel Is Held To A Higher Standard Than Any Country
April 25, 2024In the intricate tapestry of global affairs, one nation stands out for enduring scrutiny and condem...
-
Israel Has The Most Moral Military In The World
April 10, 2024In the heart of a region often riddled with conflict, Israel stands out not only for its technologi...
-
The Resilience of the Israeli People
April 2, 2024Visitors from around the world have seen Hamas's October 7th Massacre's destruction in southern Isr...
-
Israel: Small Size, Big Impact
March 21, 2024Nestled along the eastern edge of the Mediterranean Sea, Israel is a land of immense historical sig...
-
Israelis Are Fighting For Their Lives
February 21, 2024By Jonathan S. Tobin The world looks a lot different from Kibbutz Kfar Aza than it does in the U...
-
Over 2 Million Arabs Live In Israel
January 23, 2024In the complex landscape of the Middle East, where diverse cultures and identities intersect, Israe...
-
'Fauda' Star Idan Amedi Injured Fighting in Gaza
January 8, 2024Despite the severity of his injuries, Amedi's father assured Israeli news channels that his life is...
-
Israel Is A Great Country To Live In
December 28, 2023Nestled at the crossroads of the Middle East, Israel stands as a vibrant and dynamic nation, offeri...