Shalom Life | June 21, 2015

Israeli Hightech Company Acquired by Chinese Investors for $510 Million

The exit marks the highest so far this year, boding well for Israeli-Chinese relations

By: B. Shane Morganstein

Published: June 19th, 2015 in Business » World

Photo: Lumenis products


Israeli medical technology developer Lumenis has been acquired by Chinese investment fund XIO Group for $14 per share, or an aggregate $510 million, making it the highest tech exit for an Israeli company so far this year.

The XIO Group paid a 16% premium on the NASDAQ-listed Lumenis' closing price on Wednesday, and a 20% premium on its IPO price from early 2014.

"This acquisition is a strong recognition and vote of confidence in Lumenis' achievements and its employees, and I am excited about the future prospects of Lumenis," said Lumenis CEO Tzipi Ozer-Armon.

Lumenis' main areas of research are in laser technology, intense pulsed light, and radio frequency.

"We have created a very bright and promising future for Lumenis," continued the CEO, "by building a robust pipeline of innovative products, a strong sales team in each region, and by enhancing our global brand recognition. I am confident that we will continue to thrive and reach new heights together with XIO Group."

This deal does not only mark the highest tech-exit from Israel this year, but also highlights an underlying relationship that has been developing recently between China and the Jewish State.

According to Haaretz, the value of Israeli hi-tech financing rounds involving at least one Chinese interest is expected to increase by 54% this year alone. Some analysts have even speculated that by the end of 2015 China will surpass the U.S.A. in hi-tech investments in Israel.

This bodes well for the Israeli tech sector, which set an astonishing record last year with $15 billion in tech exits compared to just over $1 bllion the year before.

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