Business in Brief / Visa Europe Opens Innovation Hub in Tel Aviv

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Visa Inc. credit and debit cards.Credit: Bloomberg

Visa Europe opens Israeli innovation hub

Visa Europe has opened an innovation hub in Tel Aviv, the Finextra website reported on Tuesday. The news came less than a month after the credit-card payment processor, which is owned by a consortium of European banks, opened Visa Europe Collab in London. Additional hubs, including one in Berlin, are to follow, Finextra reported. “Four Israeli companies — Zooz, Prontoly, Payitsimple and MyCheck — have already entered the Visa Europe Collab innovation pipeline and more fresh and exciting concepts are coming through the door every day,” Finextra quoted Visa Europe Collab’s David Page as saying. Local partners in the Tel Aviv venture reportedly include Terra Venture Capital. (TheMarker)

Check Point’s Shwed says fewer new hires come from army tech units these days

Fewer new hires are coming from Israel Defense Forces technology units than in the past, Check Point Software Technologies CEO Gil Shwed has told TheMarker. Many of Israel’s leading high-tech companies have been founded by veterans of the Intelligence Corps’ Unit 8200, among others, but he said that over 90% of his cybersecurity firm’s tech professionals are college graduates whose military service is less relevant. “In recent years there’s been an increase of just a few percent of graduates of army units with a cyber background,” he said. “It’s hard to recruit them. A lot of times they want to open start-ups of their own.”
(Omri Zerachovitz)

CA closing Israeli sales office

CA Technologies is to close its Israel sales office. Ness Technologies will represent the global information technology company here and provide support to its current customers. The company’s research and development center in Israel, which has about 150 employees, will not be affected. Some of the sales office’s 40 employees are expected to move to the new Ness unit, which will be called CA Israel. In 2008, CA fired a number of senior executives in Israel, including the CEO, over suspicion of management irregularities. (Amitai Ziv)