Israeli Tech Exits Jump 520% to Whopping $82.4b in 2021
Israel’s tech firms saw exits jump an astonishing 520% in 2021 to an unprecedented $81.2 billion in value, shattering all previous funding records and up from $15.4 billion in 2020, according to an annual tech exits report published Wednesday, December 15, by consultants PwC Israel. Exits are defined as merger and acquisition deals or initial public offerings (IPO) of shares.
The number of tech exits has grown in 2021 so far to 171 deals, compared to 60 last year, including 99 acquisitions totaling $11.5 billion in value, and 72 IPOs (including SPAC — special purpose acquisition companies — mergers), 45 of which were done on the Tel Aviv Stock Exchange.
The PwC report recorded transactions between January and mid-December 2021. A separate report released earlier this week by Start-Up Nation Central detailed a record year for funding for Israeli tech firms, with an unprecedented $25 billion in investments from January through November, and 33 companies entering the unicorn club of private firms valued at over $1 billion.
The numbers “are tremendous,” said Yaron Weizenbluth, partner and head of the high-tech cluster at PwC Israel. “Last year was the end of the previous decade and it was the best year on record [for the tech sector]. It was the year of COVID-19, and we started seeing this upward trend in the later quarters of 2020 [that pointed to a strong 2021]. We were optimistic, but to be honest, we couldn’t have expected 2021 to be so unbelievable.”
There were strong signs of the rapid adaptability and resilience of the local technology sector by mid-2020, a year in which the world was facing unprecedented economic and social struggles, Weizenbluth told The Times of Israel, but the “degree of success” was not predictable. (TOI / VFI News)
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