Israeli start-ups seem to be selling like hot cakes this week. Judging by the sums of money changing hands it seems that, despite a global recession, there is still something captivating in the Israeli high-tech industry.
The latest purchase was made by American communication chip manufacturer Broadcom, which is not new to Israeli start-ups, having purchased several in the past. This time, however, it’s got Dune Networks in its cross hairs, and is set to pay $180 million for the company.
Dune Networks was founded by Michal Kahan, who acts as the current VP of marketing, Eyal Dagan, current CEO, and Ofer Iny, who acts as the company’s CTO. The company develops communication equipment for ethernet networks out of its development center (which is set to remain in Israel) in the industrial park in Yakum. It employs roughly 100 employees.
Since its founding in they year 2000, Dune Networks has seen investments totaling $50 million. Among the Israeli venture capital funds that have put their faith (and dollars) into the company, and will now enjoy the exit, is Pitango, JVP and the Evergreen funds.
Translated by Itai Rosenbaum
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