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The acquisition of the company GalayOr (literally « wave guide » in Hebrew) by Memscap, a high tech company based in Grenoble in France, illustrates perfectly well the capacity of the Israeli economy to give birth to start-ups whose know-how very quickly surpasses its own national. |
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Tel Aviv - Grenoble: global high tech alliance |
The alliance between the two enterprises is firstly strategic, since it is based on a partnership. The objective being to use the developments made by GalayOr together with the encapsulating and production expertise of Memscap. The two companies intend to provide the market, and more especially the telecommunications market, with a new generation of highly sophisticated optical products such as a closed-loop digital variable integrated optical attenuator (« DVOA »).
The acquisition of GalayOr in the autumn of 2003 has provided optimal scope for the partnership. Memscap, with a Stock Exchange listing since 2001, offers the GalayOr directors the opportunity of purchasing shares in the new mother company. The R & D centre is to remain in Tel Aviv, whereas the sales and distribution network and production is split between the different Memscap sites in France, the United States and Egypt. « The acquisition of GalayOr reinforces our technological advantage» stresses Jean-Michel Karam, The Chairman and Managing Director of Memscap. « We share the same vision and the same values. Together, we shall provide the world market with the best optical products using MEMS technology», declares Uri Geiger, Chairman and Managing Director of GalayOr, who has become Chairman of the group’s optical division.boundaries.
Memscap (165 staff), is a specialist of the MEMS (Micro Electro Mechanical System). It is a microscopic system (up to 50 times smaller than the diameter of a hair) which links mechanical, optical, electromagnetic and thermal elements. This technology is developed on a semi-conductor, giving it new functionalities at a very competitive cost.
GalayOr, based in Tel Aviv, is a supplier of optical systems built on a single chip made entirely of silicon. The company, which employs 16 people, created in 2000, is the fruit of the selfplacement process (four years research at the University of Tel Aviv) and was financed by venture capitalists.
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