CTech’s Daily Israeli Tech News Roundup
Teva’s troubles lead to more employee cuts and Periggo completes the sale of its business unit in Israel, but Dutch cannabis is joining the kibbutz. Also, Israel’s private eyes say Black Cube broke the rules.
Teva to axe over 4,000 employees. As part of Teva's reconstructing program, the company will send termination letters to tens of percents of the company's 10,000 employees in the U.S. in upcoming weeks, and cut 20-25% of Teva's 6,860 Israeli employees. Read more
Private eyes vs. Black Cube. Israel’s association of private investigators is accusing intelligence firm Black Cube of operating without a license. The complaint details some of Black Cube’s exploits, including recording a business executive while he was out on a bike ride. Read more
Lloyd’s likes Windward data. London-based insurance market Lloyd’s signed a deal this week with Windward., a Tel Aviv maritime data provider. Lloyd’s will offer Windward’s risk prediction service to all of its affiliated insurers. Read more
Perrigo completes sale of Israel business for $110 million. In August the pharma company announce it would sell its Israel-based active pharmaceutical ingredients business to New York-based investment firm SK Capital, which has over $1.9 billion assets under management. Read more
Dutch cannabis firm Barny’s Farm partners with Israeli kibbutz. Tel Aviv-listed medical cannabis outfit Medivie estimated that it would be capable of selling products within a year. Read more
TCL brings the supermarket into the kitchen with Israeli startup. Freshub’s IoT commerce software is embedded into TCL’s kitchen assistant tablets. “We give supermarket chains the ability to compete with what Amazon is doing with its Alexa voice command assistant,” said Freshub’s CEO. Read more
Dropbox joins Amazon and Facebook at Tel Aviv’s hottest office tower. The cloud storage company leased offices at the Azrieli Sarona tower in Tel Aviv, set to open in 2018. Read more
Israeli VC Spring Ventures buys into Wellborn Ventures for $2.1 Million. Wellborn Ventures invested in AI-based wearable device startup LifeBeam and content creation startup Apester. Read more.