 In 1968 he founded and headed Scitex Corporation (renamed Scailex Corporation in 2005), an Israel-based multi-national company that specialized in developing and manufacturing hardware and software for the graphics design, printing, and publishing markets.It was the first Israeli high-tech firm, and at its peak employed 4,000 people.Arazi stepped down as CEO and president of Scitex on 1 June 1988, but continued to serve as chairman of the board of directors of the company (a position to which he had been appointed on 1 May 1985) until 18 January 1989, when Robert Maxwell's Mirror Group acquired a 27% stake in the company and Maxwell was appointed chairman.