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Reuters buys Israeli start-up ClearForest

byEze Vidra
April 30, 2007
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ClearForest has developed text analysis solutions for business intelligence applications.

Globes and Haaretz reported that Reuters Group has acquired Israeli text analysis technology developer ClearForest Ltd. for about $25 million. The companies announced the deal today, before trading began on Nasdaq.

ClearForest was founded in 1998 by chairman and chief scientist Dr. Ronen Feldman and CTO Dr Yonatan Aumann . Aumann is the son of Nobel Prize for Economics Laureate Prof. Israel Aumann.

ClearForest, developed technology to analyse, read and understand large amounts of content originating from diverse documents. Reuters is one of the clients for its technology, which tags content by the principles of artificial intelligence. Other prominent clients include: DowJones, Boing and the FBI.

ClearForest has 31 employees and led by Barak Pridor. Headquartered in Boston, the company has a development center in Or Yehuda, Israel. Under the acquisition agreement, the company will operate under Reuters Search and Strategy Division, headed by Gary Campbell.

Its Israeli shareholders include Greylock Partners, Pitango Venture Capital, Walden Israel, Plenus, and Kadima Hi-tech. Foreign investors include ABS Ventures, Booz Allen Hamilton, Dow Venture Capital, HarbourVest and JPMorgan.

Source: Globes

Eze Vidra
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Eze Vidra
Co Founder and Managing Partner at Remagine Ventures
Eze is managing partner of Remagine Ventures, a seed fund investing in ambitious founders at the intersection of tech, entertainment, gaming and commerce with a spotlight on Israel.

I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.

I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
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Eze Vidra
Eze is managing partner of Remagine Ventures, a seed fund investing in ambitious founders at the intersection of tech, entertainment, gaming and commerce with a spotlight on Israel. I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups. I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
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