Google Completes Acquisition of Israeli Cybersecurity Company Waze

SadaNews Economy Translation - On Wednesday, global company Google announced the final completion of the largest acquisition in Israel, and the biggest acquisition of the cybersecurity company Waze, which is classified among newly emerging companies, for $32 billion (99 billion Israeli shekels).

According to the Hebrew financial newspaper Globes, as translated by the SadaNews Economy section, the deal was completed after a year of waiting, during which there was uncertainty regarding the potential for antitrust authorities in the United States and Europe to reject the deal.

It pointed out that, after a year, all obstacles that prevented the execution of the deal were removed.

It also noted that Waze celebrated the deal last night at a special event for its employees held in Las Vegas, United States, and showcased animated videos bearing its brand in celebration of its last day as an independent company.

It indicated that the $32 billion would be distributed to the bank accounts of 29 venture capital funds, the four founders of the company, 500 employees in Israel, and 2,200 employees outside of it.

Many other Israeli investors will also reap millions of dollars as a result of this deal.

Even before the sale, Waze was a peculiar phenomenon in the Israeli economy due to its recent establishment; it was the Israeli company with the highest growth rate in 2021-2022, during the years of the boom in Israeli high technology, and then became the first Israeli company to raise around a billion dollars in one go, surpassing giant companies.