Tech Nation: High-tech Exits Neared $11 Billion in 2015

Women’s salaries in tech climb; IBC to beef up its fiber-optic network.

Young employees working at a high-tech company.
Bloomberg

Israel’s high-tech companies had a banner year for exits in 2015, the accounting firm PwC Israel said Wednesday. Sixty-two startups were bought in M&A deals totaling $7.2 billion, up from 52 companies and $5 billion last year. Another eight conducted initial public offerings worth about $3.5 billion, down from 2014, but still, the combined value of exits neared $11 billion, PwC said. “This is the fifth year in a row exits exceeded $5 billion,” said Rubi Suliman, who heads PwC’s high-tech practice. “The Israeli market is used to getting up in the morning to another new exit... This apathy isn’t justified because on a global level it’s an amazing phenomenon.” He said low interest rates were making multinational companies use their cash to acquire technology. (Inbal Orpaz)

Women’s salaries catch up to men’s in tech
The salary gender gap in high-tech narrowed sharply this year to just 6.5% from 32% in 2014, job-placement site Jobinfo says. The average monthly salary offered men this year was 21,300 shekels ($6,470) versus 19,988 shekels for women. Men’s salary offers fell from 23,119 shekels on average in 2014 while women’s salaries rose from 17,450. Still, women remained underrepresented in the industry, with just 22% of all job offers made to them, Jobinfo says. There’s also a big difference in the kind of jobs. Among men, 75% took engineering jobs, 8% took marketing and sales jobs, and 2% took administrative jobs. For women, these numbers were 58%, 14% and 17%. (TheMarker Staff)

IBC to add 15 cities to its fiber-optic network in 2016
IBC, which is rolling out a fiber-optic network across Israel to deliver super-fast Internet service, said Wednesday it planned to wire 15 more cities next year. The company, which is piggybacking its network on Israel Electric Corporation’s power lines, will be connecting neighborhoods and streets in cities including Jerusalem, Haifa, Rishon Letzion, Petah Tikva, Rehovot and Herzliya. IBC is plagued by disputes between its shareholders, and its subscriber base is tiny compared to rivals Bezeq and Hot. It’s also struggling to meet its target of 40,000 subscribers by the end of this year. (Amitai Zin)