There most likely 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 bought 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 several other months later the tech bubble burst and the worth of privately held tech firms plummeted.
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Intel’s circumstances additionally underwent an excessive change. In the last few years the chip big had been a rising firm because of the Covid pandemic that had boosted laptop computer gross sales. Immediately Intel is an organization caught in a money disaster. In an effort to increase capital it should understand each asset that’s not 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 belongings of Israeli firm Granulate, which presently employs 100 individuals.
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 Crimson Dot.
Business sources imagine that, as for every of Intel’s subsidiaries, all choices are on the desk: from closing Granulate, by way of reducing the variety of workers, to promoting it as it’s to a software program firm.
Two years in the past Intel was contemplating getting into the cloud enterprise merchandise market however attributable to its money stream disaster and the brand new give attention to growing chip manufacturing, it deserted the concept. Not like Mobileye, Granulate was built-in into Intel.
No response has been forthcoming from Intel.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on October 27, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
