M&A in the 2013 Israeli start-up realm begins with a bang as Network equipment giant, Cisco acquires Intucell
for a whopping $475M.
Intucell’s technology provides a solution for cellular networks to optimize their mobile traffic’s speed and keep disrupted calls to a minimum.
Founded in 2008 and located in Raanana, Intucell has grown at a rapid pace, evolving from an idea to a commercial success in less than a year, and has branched out on a global scale to the United Kingdom and Singapore.
US based Bessemer Venture Partners, one of the most successful VC funds in the world, will take close to half of the sales price, after funding Intucell’s $6M series a investment round in late 2011, entirely on their own.
Intucell’s Co-Founders, CEO Rani Wellingstein and VP products Ido Susan stand to make a nice chunk of cash as well estimated at around $80M each.
This is the 12th company and one of the largest deals made by Cisco in the Israeli technology market.
The Wall Street Journal summary of M&A in 2012 showed that even though fewer deals were made in comparison to its previous year the amount of money spent was higher, thus making this mega acquisition of Intucell by Cisco an encouraging sign of continuity in 2013.
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