<article>Israeli software company <a href="http://www.somoto.biz" target="_blank">Somoto Ltd.</a> acquires Israeli adtech company Meme Video for $13 million while <a href="http://www.dealstreetasia.com/?s=Uber+Technologies+Inc" target="_blank">Uber Technologies Inc</a>. acquires Otto for a $680 million.</article>

Israeli software company <a href="http://www.somoto.biz" target="_blank">Somoto Ltd.</a> acquires Israeli adtech company Meme Video for $13 million while <a href="http://www.dealstreetasia.com/?s=Uber+Technologies+Inc" target="_blank">Uber Technologies Inc</a>. acquires Otto for a $680 million.
<h3 style="text-align: justify;">Somoto buys Meme Video for $13 million</h3>
Tel Aviv Stock Exchange (TASE) listed Somoto Ltd. <a href="http://www.geektime.com/2016/08/19/exit-somoto-acquires-israeli-meme-video-for-13-million/" target="_blank">has acquired</a> Meme Video, a company that specialises in the optimization of advertising for various target markets, for $13 million.
The acquisition price includes an estimated $3.5 million in cash and shares, with additional payments of up to $9.5 million contingent on targets spread over three years.
This puts the possible total for the deal at as high as $13 million and if performance exceeds the targets, the figure could go even higher.
CEO of Somoto Ben Garrun said, &#8220;The acquisition is another step in implementing Somoto’s strategy of obtaining a substantial foothold in the video advertising environment, and puts the company ahead in its plan to diversify its sources of revenue.&#8221;
Through the acquisition, Somoto&#8217;s strategy of diversifying its sources of revenue through focusing on the growing video and mobile advertising segments will be implemented.
Key members of Meme Video including CMO Ronen Menipaz, CEO Eran Haggiag, CFO Shay Meghnagi, and Nir Waizman will retain their current positions post acquisition.
The deal is expected to be finalised by August 31, 2016.
<h3 style="text-align: justify;">Uber forks out $680 million for less than a year old Israeli startup</h3>
Ride service Uber Technologies Inc announced that it has acquired Israeli-American company Otto, which was founded earlier this year, for a whooping $680 million.
Co-founder of Otto, Anthony Levandowski will lead Uber&#8217;s self-driving efforts in San Francisco, Palo Alto and Pittsburgh.
Uber CEO Travis Kalanick <a href="http://www.dnaindia.com/scitech/report-uber-buying-self-driving-truck-startup-otto-2247214" target="_blank">said</a>, &#8220;In order to provide digital services in the physical world, we must build sophisticated logistics, artificial intelligence and robotics systems that serve and elevate humanity.&#8221;
Otto, a commercial transport-focused tech startup with 90 employees, as so far only tested self-driving trucks for highway use.
The deal is expected to be signed within the next two weeks.
Also Read:
<a href="http://www.dealstreetasia.com/stories/israel-dealbook-50979/">Israel Dealbook:Ford acquires SAIPS, BullGuard acquires Dojo-Labs</a>
I<a style="font-weight: bold; color: #ff0000; font-style: italic;" href="http://www.dealstreetasia.com/stories/46243-46243/">sraeli businesses are international from the start: Todd Dollinger, Trendlines</a>
<a href="http://www.dealstreetasia.com/stories/israel-digestaccenture-acquires-maglan-45257/">Israel Digest: Accenture buys Maglan; EFI acquires Optitex in $20m deal</a>

Israel Dealbook: Somoto acquires Meme Video; Uber buys Otto for $680m

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Israel Dealbook: Somoto acquires Meme Video; Uber buys Otto for $680m

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