Swedish telecom giant Ericsson acquires video storage and computing platform Fabrix Systems for $95M, securing its first Israeli-based acquisition. The move is aimed to bolster Ericsson’s TV Anywhere project, which connects users to relevant content and brings high-quality video streaming on multiple devices. 

In a statement over the weekend, Per Borgklint, a senior vice president at Ericsson, said “Fabrix Systems further positions Ericsson to help customers deliver on the Networked Society’s global demand for personalized video content on any screen, at any time.”

Though Ericsson has had an office in Israel since 1997, this is its first acquisition of an Israeli company – at least in part. Started in 2006, a year later 73-78% of the company was sold to a New Jersey-based wholesale voice services company called IDT. Still, of the 103 people that work for Fabrix Systems, 93 of them live in Israel and the remaining 10 reside in the U.S. 

Ericsson not only bought IDT’s stake, but also the 22% of shares that Fabrix CEO and cofounder Ram Ben-Yakir and other original investors still held.

IDT CEO Shmuel Jonas commented on IDT’s decision to sell its shares in a statement, explaining that selling Fabrix shares to Ericsson “further sharpens our strategic focus on our growing communications and payments businesses, and represents another in a string of successful efforts to maximize shareholder value by selling or spinning off noncore businesses we have created or nurtured.”

Riding a recent flurry of Israeli acquisitions and IPOs

Despite the Israel’s 50-day war with Gaza this summer, Israeli acquisitions and IPOs have been occurring at a lightning pace. Yahoo bought video streaming startup RayV in July in a similar move to improve its cloud storage and streaming capabilities. Just in the last few days ReWalk, the popular maker of robots for paraplegics, and cybersecurity startup CyberArk announced upcoming IPOs. Mobileye, which creates software to help drivers avoid car accidents, raised a record amount for an Israeli IPO in August, securing $890M in its first few days on the New York Stock Exchange.

Fabrix may likely reflect a dying trend of Israeli startups going for an exit in their early days.