Summary：
In September 2024, the Israeli technology sector raised approximately $350 million in funding. Additionally, the total value of publicly announced acquisitions is about $1.12 billion, with companies acquired in Israel including TechnoPlus Ventures (Technology Innovation Solutions), Enercon Technologies (Experts in power and network solution design), SuperPlay (Social mobile game development).
This article is based on market data available at the time of publication.
Israeli companies which received investment in September 2024
| Company Name | Company Introduction |
| Lavie bio | Microbiome-based agricultural biological products |
| UBQ Materials | Sustainable thermoplastic materials |
| Qodo | AI Coding Tools and Solutions |
| Canada Global | Data Processing and Automation Solutions |
| NurExone Biologic | Exosome therapies |
| GeoX | 3D property data solutions for the insurance industry |
| Bluebricks | Cloud infrastructure management solutions |
| Enzymit | Bioproduction and enzyme design |
| KOIOS | Stock manipulation and investor insight solutions |
| SolCold | Solar energy eco-friendly cooling technology |
| With (Coing) | Community service platform for cities |
| Token Security | Machine-First Identity Security Solutions |
| Cybord | Cybersecurity Solutions |
| Pickommerce | Warehouse logistics automation solutions |
| REE Automotive | Electric and autonomous vehicle solutions |
| AutoMax Motors | Vehicle management and performance enhancement |
| Quantum Source | Photonic quantum computing technology |
| Element Security | External Attack Surface Security |
| Discure Technologies | Digital health solutions |
| Odigos | Instant distributed tracing solutions |
| Sedric.ai | Compliance Management for Financial Services |
| Kokomodo | Controlled climate-resilient cacao production |
| MyndYou | AI-driven care management solutions |
| Luminescent Solar Power | Waste heat recovery and renewable energy |
| Payouts | Global Payment Automation Solutions |
| Hypernative | Web3 Security and Risk Prevention |
| TAT Technologies | Thermal management and power actuation solutions |
Israeli merger and acquisition deals in September 2024
1. TechnoPlus Ventures，Technology Innovation Solutions
On September 29, 2024, SKYLOCK announced its merger with Technoplast Ventures, valued at approximately 7 million shekels (about 19 million USD), to enhance its presence and capabilities in the counter-drone technology market.
Technoplast Ventures is an Israeli company that initially planned to merge with Arkia Airlines, but that transaction did not materialize. As the shell company post-merger, Technoplast Ventures will collaborate with SKYLOCK to focus on developing counter-drone technology.
Avnon Group is an investment firm that will hold 70% of the merged company's shares after the merger, with projected revenue of 15 million USD in 2024 and expected profitability. The group further consolidates its market position in the counter-drone technology sector through this merger.
The merger of SKYLOCK aims to enhance its market competitiveness in counter-drone technology and improve its detection capabilities for multiple drone targets by integrating advanced electro-optical systems and 360-degree rotating radar, thereby providing more effective protection for critical infrastructures such as airports and borders against potential threats.
Counter-Drone Technology (CDT) is a field focused on developing and deploying systems designed to detect, track, and neutralize unauthorized drones, thereby protecting sensitive areas like airports from potential threats.
Electro-optical systems are technologies that combine electronic and optical components, primarily used for observing and detecting objects, particularly in security applications, enhancing situational awareness and target identification capabilities.
Similar Israeli companies include:
ApolloShield (Counter-drone system solutions); D-Fend Solutions (Drone threat mitigation technology); Active Optical Systems (Aesthetic medical devices and treatment solutions); A. OPTICAL COMPONENTS LTD. (Custom optics manufacturing).
2. Enercon Technologies，Experts in power and network solution design
On September 18, 2024, Bel Fuse Inc. (NASDAQ: BELFA and NASDAQ: BELFB) announced the acquisition of a majority stake in Enercon Technologies, Ltd. for an enterprise value of $400 million.
Enercon is a leading provider headquartered in Netanya, Israel, specializing in highly engineered power conversion and networking solutions for the global aerospace and defense markets. The company typically serves as the sole supplier of its products, providing robust and reliable solutions across airborne, land-based, and marine applications. According to the latest data for the second quarter of 2024, Enercon's sales reached $111 million, with a gross margin of 46%.
Bel Fuse Inc. is committed to providing high-quality power and networking solutions across multiple markets. Through this acquisition, Bel will further expand its product portfolio in the aerospace and defense markets.
This acquisition will increase Bel's revenue in the aerospace and defense markets from 17.5% to 31%. Enercon's gross margin is 46.0%, with an adjusted EBITDA margin of 32.5%, exceeding Bel's historical profit levels. It is expected to have a positive impact on Bel's GAAP earnings per share within one year of the transaction completion and to affect Bel's non-GAAP earnings per share on the transaction date. Additionally, net leverage is expected to be below 2.0 times within one quarter following the transaction's completion.
Power conversion solutions refer to technologies that involve converting electrical power from one form to another to meet specific application needs, particularly in the aerospace and defense markets.
Networking solutions encompass a range of technologies and services that enable interconnectivity and communication between computing devices, ensuring efficient data exchange and connectivity in diverse environments, including aerospace applications.
Similar Israeli companies include:
OHM Power Solutions (Military and Aerospace Power Solutions); Netline Communications Technologies (Electronic warfare solutions).
3. SuperPlay，Social mobile game development
On September 18, 2024, Playtika Holding Corp. (NASDAQ: PLTK) announced that it has entered into a definitive agreement to acquire the mobile gaming company SuperPlay, located in Tel Aviv, Israel, for $700 million, with potential additional payments of up to $1.25 billion based on financial targets.
Playtika is a pioneer in mobile gaming and a leader in interactive entertainment, dedicated to delivering exceptional gaming experiences to players worldwide. The company is known for its extensive portfolio of mobile games, including titles like "Lucky Roulette" and "Poker Kings."
Founded in 2019 by former Playtika employees Gilad Almog and Eyal Netzer, along with industry veteran Elad Drory, SuperPlay has gained recognition with successful games such as "Dice Dreams" and "Domino Dreams." SuperPlay has excelled in the mobile gaming space and is developing more new games.
The purpose of this acquisition is to strengthen Playtika's leadership position in the mobile gaming market, drive growth based on scalable titles, and unlock new opportunities for the company. The transaction is expected to close in the fourth quarter of 2024 and has been approved by the boards of Playtika and SuperPlay.
Coin Prowler games are a type of mobile game where players collect virtual coins or treasures while navigating various challenges and obstacles, often incorporating competitive elements and social interaction.
Desktop games refer to a type of game played on a board, usually involving strategic thinking and competition among players, which can be adapted into digital formats for mobile gaming.
