Thursday, January 3, 2008

Israeli firm strikes it rich in 2008


U.S. technology giant IBM announced today that its first major purchase of 2008 is of Israeli tech firm XIV.

The Tel Aviv-based XIV manufactures something called "self-healing storage" technology. Read more about it here on the Israel-Times website. Speculation is that IBM paid close to $350M.

An auspicious beginning of 2008 for the Holy Land's tech sector.

2 comments:

Jorge said...

It's good to see some companies aren't shy about dealing with Israel and Israeli made products. All too often these days, Israeli products are boycotted by countries, and foreign firms refuse to do business with Israel for fear of a negative Arab backlash.

Blintzkrieg said...

There are a plethora of Israeli tech firms making huge gains in the world. If you Google "Israel + Tech sector" you'll find many.

And here's another interesting story showcasing Israel's accomplishments in 2007.

http://www.israel-times.com/business/2007/11/uk-israel-takes-1st-2nd-and-3rd-places-at-deloitte-technology-fast-500-companies-3417/