Connect with us

Hi, what are you looking for?

Jewish Business News


Israeli Employees Who Received their Company as a Gift Sold It for Millions

This is an unusual exit even for the Israeli high-tech environment.

Digital signature

Digital signature maker Algorithms Research ARX in Petach Tikva, Israel, was sold for tens of millions of dollars to American corporation DocuSign, Calcalist reported.

This is an unusual exit even for the Israeli high-tech environment, since the company has already been acquired 18 years ago by Cylink, but a few years after the purchase, in 2001, the company returned to independent operation, and its shares were transferred to employees and management.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The employees and managers received the shares free of charge, while a number of clients invested about $ 2 million in the company. Cylink invested $1 million in return for a few points, which today have made that investment pay through the roof. With $3 million in their pocket, the self owned company fired 80 employees, and set out on a new path of constant revenue growth to this day.

The biggest winners from the transaction are the 116 employees in Israel and the U.S., who hold the vast majority of the Company’s shares. The employees, as well as veteran company executives Gadi Aharoni and Yair Yitzhaki, also hold generous stock options worth millions of dollars.

Digital signatures are an answer to the needs of organizations investing funds and resources in computing and streamlining organizational processes, accumulating in the process electronic documents. But when transactions require ratification, paper documents are still printed, perpetuating the need for routing paper documents. Digital signatures enable turning this process fast and efficient, and entirely electronic. A digital signature is a signature enforceable legally and obviates the need to print documents for the purposes of signature and approval.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.