Select Page
Bancor Token Generation Crowdfunding Campaign Raises $153M in 3 Hours

Bancor Token Generation Crowdfunding Campaign Raises $153M in 3 Hours

50/20/20/10 Token Distribution According to Bancor, 50% of BNT will be issued to the contributors in the fundraiser, 20% allocated to partnerships, community grants and public bounties, 20% to the Foundation’s long-term operating budget, 10% to founders, team members, advisors and early contributors. Founders and team contributors will be subject to a three year vesting schedule.  ]]>

Microsoft to Acquire Israeli CyberSec Startup Hexadite for $100M

Microsoft to Acquire Israeli CyberSec Startup Hexadite for $100M

as reported by ExitHub. The startup’s early venture capital investors included Hewlett Packard Ventures, Ten Eleven Ventures, and YL Ventures, who, together with Hexadite founders stand to earn a windfall as a result of the deal. Hexadite was founded in 2014 by Eran Barak (CEO), Barak Klinghofer (CPO) and Idan Levin (CTO), and is based in Tel Aviv. Within 18 months and $2.5 million in seed funding, the startup brought to market the industry’s first security orchestration and automation solution, protecting more than 500,000 devices in customers from the financial services, retail, technology, insurance, manufacturing, telecommunications, life sciences, and healthcare industries. With Hexadite, enterprises can overcome the skills, expertise, time, and resource shortages that plague their security operations centers (SOCs). “Our solution can handle all the variables involved in today’s cyber threats to give customers the ability to investigate, respond, and resolve an ever-increasing volume of incidents in minutes and even seconds,” said Eran Barak, CEO and co-founder of Hexadite. Barak was previously the head of the cyber training and simulation team at Elbit Systems, directing sales and business development for new products for emerging markets. He was also a consultant for Orantech Management Systems Ltd, and served five years in an IDF elite intelligence unit. He received a B.Sc. in Industrial Engineering and Management Science from Technion, Israel’s Institute of Technology. Klinghofer was previously the cyber solutions architect at Elbit Systems, designing solutions for both public and private sectors, and training personnel in National Cyber Security centers. He also was a senior security consultant at COMSEC, and served six years in an IDF elite intelligence unit. He holds a B.Sc. in Computer Science from the College of Management and Academic Studies (COMAS). Levin had previously spent four years at Elbit Systems as a cyber-software engineer and development leader responsible for the product life cycle of the company’s intelligence systems. Prior to his work in the private sector, he served in an IDF elite intelligence unit, where he led the development of several cyber security products and managed various development teams. “When we saw what Hexadite accomplished in such a short amount of time, we wanted to be a part of it,” said Lak Ananth, managing director of Hewlett Packard Ventures. “The ability to automate cyber alert investigations and shut down attacks in seconds gives customers a chance to defend themselves in a way that has never been possible.” “Enterprises are desperate to close the gap between security event detection and resolution,” said Mark Hatfield, co-founder and general partner, Ten Eleven Ventures. “We were very impressed with the maturity of Hexadite’s solution; they are the only company we’ve seen that truly understands how to fully automate the end-to-end incident response lifecycle. Hexadite’s ability to add intelligent automation and orchestration to resolve security events is a great leap forward that addresses a vital need for customers.” “The world’s attention is on cyber security, as cyber threats and hackers continue to evolve and perpetrate devastating breaches,’ said Yoav Leitersdorf, managing partner at YL Ventures. “Automating the entire end-to-end process from alert to investigation through actual resolution is the only approach that allows companies to scale their defenses. Hexadite is at the forefront of the movement to intelligent automation.”]]>

Delek Group to Acquire Ithaca Energy in $1.24B Deal to Expand International Ops

Delek Group to Acquire Ithaca Energy in $1.24B Deal to Expand International Ops

$3 billion sale by Royal Dutch Shell (AMS:RDSA; NYSE: RDS.A) of a package of UK North Sea assets to UK O&G independent Chrysaor Holdings,  as reported by ExitHub. Delek already owns a 19.7% equity stake in Ithaca. The proposed purchase price represents a 12% premium to the TSX closing price of CAD 1.74 per share on 3 February 2017 and a 16% and 27% premium to the 30 day and 60 day volume weighted average prices respectively. The deal received the unanimous support of Ithaca’s Board of Directors. After completion of the deal, Delek will be the controlling shareholder of Ithaca, which had a market value as of February 3, 2017 of CAD 720 milion (US$555 million), excluding convertible securities. “We are very pleased to announce the offer, which provides an attractive opportunity for all shareholders to secure a premium cash value for their investment following a sustained period of share price growth and at a favourable point in the Company’s evolution,” said Ithaca’s Non-Executive Chairman, Brad Hurtubise. “A special committee of independent directors has fully assessed the offer, with input from the Company’s financial advisor and an independent valuator, and believes the offer is fair and in the best interest of the company and its shareholders and unanimously recommends that the shareholders tender their shares to the offer.” “Today, we are taking another significant step which, if successful, will firmly establish Delek Group as a global E&P company, with international oil and gas assets and strong operational capabilities,” said Asaf Bartfeld, President and CEO of Delek Group. “The Ithaca transaction will substantially strengthen our international operational arm, and is a synergistic step to our existing activities. We believe Ithaca will contribute to our continued growth and we look forward to reinforcing and building on our status in international markets.” Delek Group, Israel’s dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean’s Levant Basin into one of the energy industry’s most promising emerging regions. Having discovered Tamar and Leviathan, two of the world’s largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 40 TCF. Delek also has a number of assets in downstream energy, water desalination, and in the finance sector.]]>