Intel Buys Israeli Graphics Developer
Intel continued its “buying spree” of Israeli tech companies, announcing on Thursday that it had snapped up a small Israeli company called GraphTech, which works in the area of advanced video graphics. The price was not disclosed. All 12 GraphTech employees will go to work for Intel.
Among GraphTech's projects is one called Hoot Gaming, a mobile gaming system it developed with Cellcom, allowing users to play games on their cellphones that were stored on their PCs.
GraphTech was established in 2006, and did not receive funding from a venture capital fund, instead preferring to fund itself from deals it made with several partners and customers. Among those are Google, AMD/ATI, Adobe, Samsung mobile, and a graphics hardware developer whose name has not yet been revealed. GraphTech was established by several former employees of Silicon Graphics, including Alon Barnea, Peter Ostrin, Yochai Shefi-Simchon, and Jacky Romano.
This is the fourth Israeli acquisition by Intel in the past year or so. The processor giant has purchased Neocleus, a maker of client hypervisors (a program that lets multiple operating systems to share the same hardware) and cellular chip maker Comsys, as well as taking over the cable modem manufacturing business of Texas Instruments. Intel has been operating in israel since 1974, and has 8,000 employees here.