Intel Expands in Israel via Germany

Corephotonics raises funds; MyECheck snaps up Seergate.

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Intel company's headquarters in Santa Clara, California
Intel company's headquarters in Santa Clara, CaliforniaCredit: Bloomberg

Acquisition expands Intel’s Israel presence
Intel is expanding its already massive presence Israel indirectly: It says it has agreed to buy German network chipmaker Lantiq. The German company employs about 100 people at an Israeli research and development center specializing in wireless communications technology, which was formed after Lantiq acquired Israel’s Metalink in 2010 for nearly $17 million. The U.S. semiconductor company, which has a 10,000-strong workforce in Israel including R&D and manufacturing, bought Lantiq for an undisclosed amount to expand its range of chips used in Internet-connected devices, an industry segment popularly known as the Internet of things. (TheMarker)

Corephotonics raises $18m for phone camera
Corephotonics, which is developing a better smartphone camera, says it has raised $17.8 million in a fundraising round led by Chicago-based Amiti Ventures. The round included a group of new strategic investors — California-based SanDisk and two unnamed Chinese companies. Existing investors were the Magma Fund and Venture Partners, Hong Kong billionaire Li Ka-shing’s Horizons Ventures and Europe’s Beta Angels. The latest round brings the total raised since Corephotonics was founded in 2012 to $28.3 million and will let the company add 15 people to its staff of 32. The startup has overcome a key deficit on smartphone cameras by enabling them to perform optical zooming of up to five times without moving parts. Corephotonics was formed by CEO David Mendlovic; Gal Shabtay, now vice president for research and development; and Eran Kali, vice president for marketing. (Inbal Orpaz)

MyECheck buys U.S.-Israeli startup Seergate
MyECheck, which has developed an electronic check for online and mobile payments, says it has agreed to acquire the U.S.-Israeli startup Seergate for $3 million in MyECheck shares. Seergate, which has offices in Israel and the United States, has developed an electronic-payment platform for banks focused on small business, ecommerce and personal transactions that will be integrated into the MyECheck system. The company was founded in 2006 by Eldad Aharon and Alicia Roisman Ismach and raised a few million dollars a year later. After the two technologies are integrated, MyECheck will launch its mobile app payment system that includes the Seergate technology. (TheMarker)

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