Recently there have been some very interesting success stories
on the Israeli technology front, including one significant story
with a Pittsburgh connection. As you may have heard, the Israeli
crowd sourcing navigation app company, Waze, was recently bought by Google
for between $1.1 and $1.3 billion. Although the transaction is
being reviewed by the FTC, it has created a strong ripple effect
throughout the Israeli technology sector, with the demand for
mobile and internet app developers up by 40 percent, according to
Globes.
A few months ago, another Israeli technology company, this time
in the field of healthcare IT, also had a successful exit. dbMotion, an
Israeli company with its U.S. operations in Pittsburgh, was sold to
Allscripts
for more than$230 million. According to published reports, Pittsburgh-based healthcare
system UPMC was a significant investor in dbMotion.
This was a very successful exit and has whetted the appetite for
investment in medical device
