Israel counts the world’s largest number of start-ups calculating on its population: 90% of risk capital investments are invested in start-ups.
The Israeli start-up Aeroscout officially declared to have been acquired by the giant American manufacturer of working tools Stanley Black and Decker.
The Israeli company AeroScout, which develops chips that use radio-frequency identification to track objects, animals and human beings through Wi-Fi networks, is sold to an international infrastructure and services company for around $240 million.
Rehovot-based AeroScout was founded in 1999 and currently has about 200 employees. It has raised a total of around $70 million in financing up to now. The company's revenues are increasing at an annual rate of 25%, and in 2011 exceeded $40 million. AeroScout products are used, in the hospital, to track patients as well as blood products such as organs; to manage and monitor equipment in universities; and to keep tabs on products throughout the manufacturing process, among other uses. The company's customers include Boeing, Freescale Semiconductor, Continental Tire and more than 500 hospitals around the world.
Stanley Black and Decker is a leading manufacturer of tools for work and renovation, and acquisition of AeroScout is, for the company, the first entry into the Israeli market. The company, based in Maryland, USA, is the result of the merger of two major groups Stanley Works and Black and Decker in 2010. The turnover of the company amounted in 2011 to $ 10.38 billion, with a profit of $ 674 million. Stanley Black and Decker has about 36.000 employees.