Business in Brief

Intel exports from Israel jumped 109% in 2012

Intel more than doubled its exports from Israel in 2012, from $2.2 billion in 2011 to $4.6 billion, the company said Sunday at its annual press conference in Tel Aviv. The world’s biggest maker of computer chips accounted for 10% of all Israel’s exports excluding diamonds, and 20% of its high-tech exports. Intel said it now employs 8,500 people in the country, adding 760 in 2012. Intel Israel President Muli Eden added that the company invested $1.1 billion here last year. Commenting on the role education plays in Israeli industry, Eden said: “What we are reaping today was sown 20 years ago, partly through Russian immigration − a one-time occurrence. Are we doing what’s necessary to ensure that in 30 years we’ll have a Start-Up Nation sequel or will it be relegated to history?” ‏(Orr Hirschauge‏)

Checks bounced higher last year than in 2011

The number of Israeli businesses to have severe restrictions placed on their bank accounts for writing bad checks jumped 54% to 6,962 in 2012, the business information company BDI said on Sunday. Each had more than 10 checks bounce in a space of over two weeks. The average bad check was for NIS 8,250, 6% more than in 2011. The average amount for a check that wasn’t honored due to insufficient coverage was NIS 4,180, 3% higher than in the previous year. Overall, 3.65 million bad checks were issued by companies and individuals for a total of NIS 6.4 billion, 1% more than in 2011. ‏(Ora Coren‏)

After Download buying IronSource for $28m

Another merger is taking shape between two Israeli download companies: IronSource, with over 100 employees based in the heart of Tel Aviv, is reported to be looking to buy out After Download for $28 million − $20 million in cash and the rest in shares. TheMarker has learned that an agreement has been signed but the deal hasn’t yet been completed. IronSource was founded in 2009 through a merger of several companies and offers third-party user installation software. After Download, founded in 2010 by Omer Kaplan and Liron Rose, is a CPC platform company with 45 employees specializing in advertising on websites that download. ‏(Inbal Orpaz‏)