Tech Nation / CA Buys Israeli Startup IdMlogic for Up to $25 Million

Kyma Medical to be sold for $35 million, AltalR Capital launches crowdfunding platform, Israeli, Norwegian firms to collaborate on volcanic ash detection technology.

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Smoke billows during an eruption of Mount Etna volcano as seen from the village of Viagrande, near the Sicilian town of Catania, Italy, Saturday, Oct. 26, 2013.
An eruption at Mount Etna in Sicily. Elbit and Nicarnia are collaborating on a volcanic ash detection system.Credit: AP

CA buys Israeli startup IdMlogic for up to $25 million

CA Technologies, the U.S. software company once known as Computer Associates, said on Monday it was buying Israel’s IdMlogic, which provides identify and access management tools for companies. CA didn’t say how much it was paying for the Tel Aviv-based company, but industry sources estimated it was between $15 million and $25 million. “Identity and access management long ago stopped being the purview of only highly technical staff. For effective and efficient security and compliance initiatives, business leaders must participate in IAM functions,” said Steve Firestone, CA’s senior vice president and security general manager. IdMlogic was founded in 2004 by Iris Sharoni and Mike Trubatch. It was named CA Innovative Partner of the Year last November.

Kyma Medical to be sold for $35 million

Kyma Medical Technologies is being sold for $35 million, Elon Technologies – which owns 26.5% of the startup – said on Monday. It did not identify the buyers, who signed a nonbinding agreement that includes additional payments based on sales of Kyma’s products and on Kyma technology incorporated into the buyer’s products. Kyma has developed an innovative approach for remote monitoring of chronic heart failure patients. Its miniature device utilizes body-penetrating microwave radar technology to monitor lung fluid, heart rate, breath rate and posture, sending the data wirelessly to a monitoring service provider. Elon said it expected to make $19 million from the initial sale, of which $7 million would be recorded as a capital gain.

AltaIR Capital launches crowdfunding platform

AltaIR Capital, the Russian venture capital fund led by Igor Ryabenkiy, has already raised $400,000 for two Israeli startups through its new AltaClub arm, which raises money from small investors via crowdsourcing. The first, RoutePerfect, is an interactive trip-planning tool that helps you create a European trip itinerary based on your personal preferences. The second is Unomy, a marketing intelligence platform. AltalR is raising $30 million for its third fund, which will invest in startups in Israel, Europe and the United States. “Setting up the AltaClub platform answers the growing demand for investors all over the world, including qualified Israeli investors, and a limited number of others, to make venture capital investments,” said Ryabenkiy.

Israeli, Norwegian firms to collaborate on volcanic ash detection

Pilots will be better prepared to deal with the dangers of volcanic ash in the air with technology being jointly developed by Elbit Systems and Norway’s Nicarnica Aviation. Elbit said on Monday that the two companies won funding from the European Union’s Eurostars program to develop volcanic-ash detection technology using Elbit’s ClearVision Enhanced Vision System and Nicarnica’s Airborne Volcanic Object Imaging Detector (AVOID). They will incorporate new technologies for enhancing operational efficiency, reducing maintenance costs and avoiding flight delays of commercial airlines caused by adverse ambient flight conditions. Nicarnia’s AVOID detects volcanic ash in the atmosphere up to 100 kilometers (62 miles) ahead of an aircraft, providing pilots sufficient time to safely take evasive action

Daily Mail website invests $3 million in Taboola venture, which claims to be the world’s largest English-language newspaper website, said last week it is investing $3 million in the Israeli Web-discovery platform Taboola, as part of a joint initiative to develop next-generation advertising and content-marketing offerings for clients. “We’ve already used their technology to optimize and deliver key native campaigns, and in the next few months we’ll have new content ad products to offer our advertising clients,” said Jon Steinberg, CEO of Daily Mail North America.

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