There most likely couldn’t have been a greater time for Tal Saiag and Asaf Ezra, the entrepreneurs behind Israeli cloud optimization options firm Granulate. In 2002, they bought the corporate to Intel for $650 million, after elevating simply $45 million. In the identical month the US Federal reserve hiked the rate of interest for the primary time in years and several other months later the tech bubble burst and the worth of privately held tech firms plummeted.
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Intel buys Israeli cloud optimization co Granulate
Intel’s circumstances additionally underwent an excessive change. In the last few years the chip large had been a rising firm due to the Covid pandemic that had boosted laptop computer gross sales. Immediately Intel is an organization caught in a money disaster. With the intention to elevate capital it should notice each asset that isn’t in its core enterprise. It has mulled the sale of Mobileye and Altera, and for a number of months it has been trying to notice the property of Israeli firm Granulate, which presently employs 100 individuals.
Along with the founders Ezra and Saiag, among the many funds that profited handsomely from the sale had been Perception Companions, Hetz, TLV Capital and Crimson Dot.
Business sources imagine that, as for every of Intel’s subsidiaries, all choices are on the desk: from closing Granulate, via slicing the variety of workers, to promoting it as it’s to a software program firm.
Two years in the past Intel was contemplating getting into the cloud enterprise merchandise market however attributable to its money move disaster and the brand new concentrate on growing chip manufacturing, it deserted the thought. Not like Mobileye, Granulate was built-in into Intel.
No response has been forthcoming from Intel.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on October 27, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
