SeciureAlert buys Israel’s GPS Global for reported $11 million
Ness Technologies becomes Israel's first unionized tech company.
SecureAlert, a U.S. company providing tracking and electronic monitoring of prisoners to law enforcement agencies, said Wednesday it had agreed to acquire Israel’s GPS Global Tracking & Surveillance System. The Utah-based company didn’t say what it was paying for GPS Global, but sources said it was about $11 million. Kfar Saba-based GPS Global will bring SecureAlert a suite of innovative technology and services for locating and tracking offenders as well as vehicles, facilities and human resources. SecureAlert will set up a research and development center in Israel. GPS Global CEO Eli Sabag will spearhead SecureAlert’s business development in Europe, Asia and other markets outside the Americas. (Orr Hirschauge)
Ness Technologies becomes first unionized tech company
Ness Technologies, the financially struggling information services and business consulting company, has become the first Israeli high-technology company to be unionized. A month-long organizing effort was completed this week when more than a third of Ness’ employees signed forms joining the Histadrut labor federation. The newly formed workers’ committee called on management to “serve as an example to the industry and sit with us as soon as possible to negotiate a collective labor agreement.” Past organizing efforts by the Histadrut failed, but at Ness the drive was prompted by layoffs at the company and fears that more would follow. (Haim Bior)
BioLight raises 33.5 million shekels in two weeks
BioLight Israeli Life Sciences Investments, which invests in biotech innovations in ophthalmology and cancer diagnosis, said on Wednesday it closed its second round of fund-raising in two weeks. The company raised 14.5 million shekels (some $4 million) from two institutional investors in shares and warrants, the latter of which may eventually yield another 25 million shekels of follow-on investment. Two weeks earlier, the company raised 19 million shekels, an amount that may grow to 26.8 million shekels if the warrants component is exercised. Insiders, including former Teva Pharmaceuticals CEO Israel Makov, invested 10.5 million shekels of the amount. “These funds will enable us to advance promising products into clinical trials and to invest in exciting new technologies to further expand our portfolio,” BioLight CEO Suzana Nahum-Zilberberg said. (TheMarker Staff)