Defence electronics company Elbit Systems is to provide Portugal’s air force with advanced communications equipment and electronic warfare logistics support after winning a £39 million tender.
The Haifa-headquarted company will deliver the contract over a five-year period.
It comes shortly after it awarded a similar contract to service the Swiss military.
New acquisition to help fight insider threats
Proofpoint, a US cybersecurity company, is to to buy an Israeli insider threat management company in a cash deal worth £175 million.
The agreement to buy ObserveIT, which was founded in Israel and still has a research and development centre there, is expected to complete before the end of the year.
It had been acquired in 2013 by venture capital firm Bain Capital for £15.5 million.
Zip around the Dead Sea on an electric scooter
Tourists will soon be able to zip around the Dead Sea as LEO, an electric scooter sharing service, plans to launch a service in the Ein Bokek resort.
perated by Israel-based brand Inokim, the service will charge a flat fee for each ride and an additional fee per minute.
LEO’s app-based service allows users to book scooters up to 15 minutes in advance and briefly put the scooter they are using on hold for a nominal fee.
In partnership with hotel group Fattal, LEO will make 100 scooters available for hire.
An upgrade for Kfar Saba
Israeli construction company Electra Ltd has been chosen to build a 17-floor office tower above the Kfar Saba mall.
The upgrade to the Sharona Center, a commercial and office complex near the central Israeli town’s railway station, is worth £38 million and will significantly increase the floorspace for offices and commercial premises.
Ad tech company acquisition
NYSE listed Quotient Technology has agreed to buy Israeli ad-tech company Ubimo, which provides data analytics to help marketers better to understand and act on real-world behaviours.
Using artificial intelligence technology, Ubimo uses multiple datasets and techniques it has developed to make media campaigns more effective.
The Tel Aviv-based company has raised £7.3 million since it was founded. Investors include Pitango, OurCrowd and Yahoo Japan.
IzBiz is compiled every fortnight for the JC by Jeremy Seeff, partner at ERM, a cross-border law firm based in Tel Aviv for corporate, finance and real estate matters. Read previous editions of IzBiz here.
