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JERUSALEM (Reuters) — Israeli high-tech firms recorded exits totaling $3.3 billion in the first half of 2016 and are on track to be close to the $7.4 billion from all of 2015, a survey showed on Tuesday.
The average exit of the 45 deals was $74 million, according to the IVC Research Center and law firm Meitar Liquornik, which noted that there was a drop in the number of deals in the January-June period due to global decline in capital raising, particularly in the United States and China.
There were another four private equity buyouts accounting for $878 million and one initial public offering that raised $5.9 million.
The largest deals were the $811 million acquisition of EZchip by Mellanox and the $643 million private equity buyout of Xura.
The survey noted that by the end of 2016, at least 100 exit deals worth $7 billion will have closed, 13 percent below the proceeds generated by 111 deals in 2015.
(Reporting by Steven Scheer)
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