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Insights & News
How Trump's Work Visa Freeze Will Affect Israeli High-Tech
US President Donald Trump suspended on Monday the entry of certain foreign workers until the end of the year. Adv. Netta Bromberg, the head of our Employment Department, was interviewed by Calcalist about this latest development. According to Netta, "This decision is a long-term violation of the globalization process as we have known it in recent decades. Israeli startups looking to expand in the US will need to search for local workers and to recalculate what their business models should be.”
Companies' Collection of Personal Data
Globes has published a comprehensive article on technology solutions relating to the relationship between property lenders and tenants. We were interviewed as part of the article about the privacy of such platforms' users.
Barnea Represents Cyberx Shareholder in Microsoft Acquisition
We represented Inven Capital, a Czech-based VC fund and a shareholder in Cyberx Israel, an Israeli IoT & ICS cybersecurity startup, in Cyberx's sale to Microsoft for USD 165 million. CyberX has gained tremendous customer growth, with a number of leading companies using its IoT security platform to protect their web facilities. Cyberx has raised about USD 48 million since its inception in 2013. This is Microsoft’s eighth acquisition in Israel in the last decade.
HR Considerations When a Foreign Company Wishes to Work in Japan
Adv. Netta Bromberg, head of our Employment Department, will join a panel in a webinar on HR considerations when employing staff in Japan. Hosted by the Israel-Japan Chamber of Commerce in collaboration with GoGlobal Ltd, the webinar is designed for Israeli companies planning to establish operations in Japan, as well as those already operating there and considering relocating Israeli employees to their Japanese offices.
Tax Considerations for Returning Residents to Israel
Adv. Harel Perlmutter will speak at a webinar hosted by the nonprofit Toshav Chozer on tax considerations for residents returning to Israel. The coronavirus pandemic has added new complexity to an already challenging decision. Harel will discuss the tax rights and benefits available to returning residents.
CardiacSense Signs USD 32M Deal to Sell Watches in India
Our firm advises Cardiac Sense, a startup that has developed a medical watch for remotely monitoring patients’ vital signs and detecting fever and chronic diseases, on all legal matters. We recently assisted the company with an agreement worth more than USD 30 million to supply medical watches to hospitals in India.
Administrative Appeal to Cancel Land Grant
Last April, the Israel Land Authority allocated a 34-acre plot in Ashdod to Maxima, a company controlled by billionaire George Horesh, without a tender. Three private landowners with factories nearby petitioned to overturn the allocation. Adv. Zohar Lande, Adv. Gal Livshits, and Adv. Adi Shoham represented the petitioners.
Israel's Infrastructure Boom
Israel is undertaking a massive transformation to modernize its infrastructure, with a series of projects in transport, energy, and defense. British magazine The Lawyer interviewed Adv. Shai Avnieli, an expert in the infrastructure area, on the subject. Shai noted that providing legal advice for complex projects is not something just any lawyer can do. "This practice area is not some buzzword that lawyers can quickly adapt to and it is certainly impossible to quickly become adept in this field," he stressed.
Every Crisis Is an Opportunity – Webinar
On June 2, we will host a webinar together with the ACC addressing the opportunity to upgrade the role of compliance officer in light of the coronavirus crisis. The webinar is geared for compliance officers and legal counsels.
An Opportunity for Regulators
The Israel Securities Authority's current enforcement policy requires officers and companies that have acted in good faith to establish their good faith in administrative enforcement proceedings. Read an op-ed in TheMarker discussing how regulators can recalibrate this policy.
Unpaid Leave: Rights of Employees Fired After Being Put on Unpaid Leave
Just over two months ago, at the onset of the coronavirus crisis, one million Israelis were placed on unpaid leave. As businesses resume operations under new restrictions, Maariv interviewed Adv. Netta Bromberg for a special guide explaining employees’ rights and employers’ obligations.
Doing Business in Israel – Practical Law
This year, we were once again responsible for preparing the QA guide on doing business in Israel for the Practical Law website. The guide provides an overview of recent key developments that have affected doing business in Israel, including the legal system, foreign investment, employment, tax, competition, privacy, and IP.
Class Action Lawsuits Skyrocket Following Coronavirus Crisis
Adv. Zohar Lande was interviewed by Globes, where he revealed that the number of requests for class action approval coming to our office has increased twofold since the start of the coronavirus crisis. According to Zohar, no action is required by the legislature or the courts in this respect.
First Steps for Startups: Adv. Ariella Dreyfuss Lectures at Bengis Center for Entrepreneurship & Innovation
Adv. Ariella Dreyfuss lectured today on founders' agreements and raising initial funding to Faculty of Business and Management students from Ben Gurion University’s Bengis Center for Entrepreneurship & Innovation.
The Legal Aspects of Building a Startup
As part of our close relationship with AtoB, a professional accelerator in Jerusalem operated by the Azrieli College of Engineering, Adv. Yuval Lazi was invited today to discuss with early-stage entrepreneurs the legal aspects of building a startup.
FIMI Acquires Control of Amiad Water Systems
FIMI Opportunity Funds, a private investment fund, recently acquired control of public company Amiad Water Systems Ltd. Adv. Micky Barnea represented Hachoshlim Fund Cooperative Agricultural Society Ltd., Amiad's largest shareholder, in the acquisition. As part of the deal, FIMI agreed to invest about USD 19 million in Amiad for a share allocation, thereby acquiring 5% more of the company's shares.
Barnea Represents Surf in Sale of Video Division to Lytx
Lytx Inc., a US-based fleet management software developer, has acquired the video division of Israeli company Surf Communications, which will serve as Lytx’s Israeli R&D center. Founded in 1996, Surf develops multimedia digital signal processing technologies for telecommunications infrastructure. Adv. Micky Barnea and Adv. Ariella Dreyfuss represented Surf in the transaction, valued at USD 20-30 million.
Webinar on the Current Issues Facing Israeli Entrepreneurs
Adv. Netta Bromberg will join an expert panel in a webinar hosted by Fox Rothschild LLP, exploring the challenges facing Israeli entrepreneurs and business professionals in Israel and abroad.
Capital Markets in the Age of Coronavirus
M&A expert Adv. Micky Barnea was interviewed by Globes for an in-depth analysis of major deal cancellations amid financial uncertainty. The article explores how large corporations have the financial flexibility that smaller businesses and self-employed professionals can only dream of. According to Micky, “Starting in February, we noticed that time had become elastic. Typically, parties seek to maintain a steady pace, accelerating once they have shaken hands on a deal. Now, fewer people are rushing to complete transactions. They are taking time to see what happens next in the market.”
Tax Advice on USD 20 Million Investment in CyberMDX
Our tax team advised the strategic partner Sham (Relyens Group), Europe’s largest insurance and risk management provider for healthcare, on the tax aspects of its USD 20 million investment in CyberMDX, an Israeli healthcare cybersecurity provider that delivers visibility, threat prevention, and operational efficiency for medical devices, IoT, and clinical networks.