There in all probability 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 offered 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 a number of 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 because of the Covid pandemic that had boosted laptop computer gross sales. Right this moment Intel is an organization caught in a money disaster. With a purpose to elevate capital it should understand 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 seeking to understand the property of Israeli firm Granulate, which at the moment employs 100 folks.
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 Purple Dot.
Trade sources consider that, as for every of Intel’s subsidiaries, all choices are on the desk: from closing Granulate, by reducing the variety of staff, to promoting it as it’s to a software program firm.
Two years in the past Intel was contemplating coming into the cloud enterprise merchandise market however as a consequence of its money circulate disaster and the brand new deal with growing chip manufacturing, it deserted the thought. Not like Mobileye, Granulate was built-in into Intel.
No response has been forthcoming from Intel.
Printed by Globes, Israel enterprise information – en.globes.co.il – on October 27, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
