The first week of July 2026 is shaping up to be one of the busiest M&A weeks for Israeli tech, with two major acquisitions within 48 hours. Qualcomm is acquiring Israeli cybersecurity firm SAM Seamless Network for over $150 million, while ServiceNow has snapped up AI agent startup ai.work.

The two deals join a broader picture painted by fundraising reports published this week: Israeli tech companies raised between $7.6 billion and $8.4 billion in the first half of 2026, a 45–52% increase year-over-year.

Qualcomm Doubles Down on Cybersecurity

Qualcomm completed the acquisition of SAM Seamless Network, an Israeli cybersecurity company whose platform protects over 500 million connected devices across 15 million user networks worldwide. Reports from Calcalist and Globes value the deal at more than $150 million.

Founded by CEO Sivan Rauscher, SAM had raised approximately $30 million from investors including Intel Capital, Verizon Ventures, and BlackBerry. The company is expected to continue operating independently within Qualcomm, strengthening the chipmaker's security capabilities for edge devices and IoT infrastructure.

ServiceNow's Fourth Israeli Acquisition of 2026

ServiceNow acquired ai.work, an Israeli AI agent platform founded in 2024 that raised about $10 million. The deal is valued in the tens of millions of dollars, marking ServiceNow's fourth acquisition in Israel this year alone.

ai.work's platform automates internal organizational processes, IT, HR, finance, legal, procurement, integrating with Microsoft 365, Slack, Jira, Google Workspace, and Salesforce. The acquisition underscores the enterprise market's accelerating shift toward autonomous AI agents.

Record H1 Fundraising

The IVC-LeumiTech and CTech reports, published this week, paint a picture of exceptional strength:

  • Cybersecurity led fundraising with $2.57 billion, roughly 34% of all capital raised
  • Defense tech and quantum raised $846 million in six months, nearly matching all of 2025
  • Notable rounds: Vast Data raised $1 billion ($30 billion valuation), Cyera raised $1 billion cumulatively in 18 months ($12 billion valuation), DriveNets raised $410 million

IVC-LeumiTech reports $7.6 billion across 193 rounds, while CTech's data shows $8.4 billion across 129 rounds. The discrepancy stems from methodological differences, but both point to one of the strongest half-year periods in Israeli tech history.

Government Doubles Down on Deep-Tech

The Israel Innovation Authority announced an expansion of its Startup Fund for early-stage deep-tech companies. Pre-Seed grants rise from NIS 1.5 million to NIS 2 million, Seed grants from NIS 5 million to NIS 6 million, effective July 15. The move addresses the longer fundraising cycles and higher capital needs of capital-intensive deep-tech ventures in areas like AI, advanced materials, and quantum.

The Bottom Line

A representative week for Israeli tech: two significant acquisitions by global players, record fundraising data, and expanded government support for deep-tech. Two dominant trends, capital concentration in quality companies and surging investment in deep-tech and cybersecurity, are reshaping the ecosystem.