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Top Israel Startup Nation Merger and Acquisition Stories for June


Qualcomm Acquires Cellwize

Israel Startup Nation is known for its big exits. Some of the biggest came by way of an IPO. But still, many more came through acquisitions by larger companies. Here are the three biggest such stories from the month of June.

RADA Electronic Industries Ltd., an Israeli company that develops tactical radar technologies, was acquired by Leonardo DRS Inc., a mid-tier defense technology provider in a deal worth an estimated $670 million. According to the agreement the two will enter into an all-stock merger and become a combined public company.

Rada has been publicly traded on the NASDAQ since 1985.

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Pro forma for the merger, Leonardo SpA and RADA shareholders will own approximately 80.5% and 19.5%, respectively, of the new combined company on a diluted basis, which will maintain the name Leonardo DRS and is anticipated to trade on NASDAQ and TASE under the symbol “DRS.”

The 19.5% ownership in the combined company provided to RADA shareholders was designed to provide a premium in excess of 20% over the current value of their RADA stock.

RADA is a global defense technology company focused on proprietary radar solutions and legacy avionics systems. The Company offers mini-tactical radars, serving attractive, high-growth markets which include active military protection (SHORAD, C-RAM), counter-UAS missions, critical infrastructure protection and border surveillance.

Cellwize Wireless Technologies, an Israeli provider of mobile network automation tech, was acquired by Qualcomm, the American chip manufacturer, for $350 million through its investment arm, Qualcomm Ventures in June.

Qualcomm was already an investor in Cellwize, having taken part in that company’s $32 million Series B round of funding which was held in November 2020. “While large companies have traditionally been more dominant in the RAN market, 5G is changing the landscape for how the entire mobile industry operates,” said Ofir Zemer, Cellwize’s CEO at the time of the raise.

Qualcomm also provides 5G tech, including 5G-enabled smartphones that double as pro-level cameras and gaming devices, smarter vehicles and cities, and the technology behind the smart, connected factories. The company boasts that its powerful connectivity solutions keep people connected—even in remote areas.


Also in June, Global-e, an Israeli fintech company offering services in commerce and retail, bought the Borderfree cross-border e-commerce solutions business from its parent company the global shipping and mailing firm Pitney Bowes. Global-e will acquire Borderfree for approximately $100 million, financed with cash, and complete the acquisition by the end of Q3 2022.

Borderfree helps retailers enter new global markets by localizing their domestic website in 200+ countries and territories, simplifying compliance and regulations processing. Borderfree is expected to generate in excess of $40 million in revenues in the calendar year 2022.

Leveraging Borderfree’s capabilities, Global-e will provide merchants with a best-in-class solution of global demand generation. Current Borderfree clients will gain access to Global-e’s leading platform localization capabilities, in combination with Global-e’s unique data models and AI-algorithms for conversion optimization.

Founded in 2013 by Amir Schlachet, Shahar Tamari, and Nir Debbi, Global-e offers a platform that the company says enables and accelerates global, direct-to-consumer cross-border e-commerce growth for businesses. It is a partner to hundreds of retailers and brands across the United States, Europe and Asia, Global-e and has the tag line, “makes selling internationally as simple as selling domestically.”



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