Semiconductor giant Intel announced on Monday that it is acquiring Israeli company Screenovate, a developer of beaming and mirroring solutions for mobile devices, for an undisclosed amount.
Business daily Calcalist estimated the sum of the transaction at roughly $150 million.
Screenovate was founded in 2009 by Joshua Glazer, commercializing a cross-platform software solution that duplicates and displays the contents of a smartphone screen to other media platforms such as televisions, car displays and PC monitors.
Intel’s investment arm, Intel Capital, had previously invested in the Ra’anana-based company in 2014.
Intel said in a statement Monday that it will continue to develop and market Screenovate’s existing products and “work together with the company’s team to improve user experience on personal computers.”
The multinational indicated that it was interested in Screenovate’s solutions for Intel’s EVO laptops. “Surveys of Intel customers show that users are looking for smooth transitions between all their devices and especially between their PCs and mobile phones,” the company said in the statement. The acquisition, it added, “will enable this experience among many devices and will complement Intel’s EVO initiatives.”
The agreement marked Intel’s fifth acquisition of an Israeli company in half a decade. Intel bought Replay Technologies, a developer of 3D reconstruction technologies for large-scale sports events, in 2106, but shut it down earlier this year.
The multinational then bought Mobileye, a Jerusalem-based maker of self-driving technologies, in 2017 for over $15 billion, a transaction that remains an Israeli company’s biggest exit to date. Mobileye has become a central part of Intel’s global operations, as it looks toward a future with fully autonomous vehicles.
The company followed up with a roughly $2 billion acquisition of artificial chipmaker Habana Labs in 2019, and transit tech company Moovit in 2020 for about $1 billion.
Jim Johnson, corporate vice president at Intel and general manager of client engineering, said on Monday that one of the company’s goals was to “achieve innovative solutions that will most optimally meet the needs of our customers, including the need for a smooth and efficient user experience on a PC and the Intel Evo platform. The acquisition of Screennovate will help us advance this goal as it complements our technology portfolio and provides user solutions for our customers,” where screen mirroring or beaming is needed across devices.
Glazer said Screenovate was a technology developer for “advanced integration of end devices based on different operating systems” and has built strong manufacturing partnerships with leading players in the industry.”
The Screenovate founder said Intel was a “technology superpower” and that the acquisition agreement “opens new horizons for all of us.”