Ariella Dreyfuss Insights & News / 

Our firm represented Azrieli Group, the largest income-producing real estate company in Israel, in a share purchase transaction of the Norwegian company 'Green Mountain' for NIS 2.8 billion.The Norwegian company operates three server farms in Norway and holds contracts with a total volume of 24 megawatts.

The fintech company Sunbit, which has developed an AI-based technology that enables personalized payment options, raised USD 130 million in a series D financing round led by Group 11, Zeev Ventures, and Migdal Insurance.Our firm's Mickey Barnea, Ariella Dreyfuss, and Daniel Arbov represented Migdal in the transaction.

Our firm represented Migdal in a financing round worth millions of shekels in Behalf, a startup that provides alternative financing solutions to B2B companies. The client was represented by Micky Barnea, Ariella Dreyfuss, and Daniel Arbov.

Ariella Dreyfuss lectured to early-stage Israeli and Palestinian entrepreneurs as part of the 50:50 Startups tech accelerator in Jerusalem.

Israel-based fintech company TipRanks announced today the completion of a USD 77 million funding round led by Prytek and Mor Investment House. Our firm's Ariella Dreyfuss and Daniel Arbov represented TipRanks in the round. TipRanks currently has 60 employees located mostly in Tel Aviv. With the new investment, the company plans to double its workforce and open offices in New York.

We represented Datum BioTech Ltd and its non-wholly owned subsidiary, Datum Dental Ltd, an Israeli company that develops medical devices for the mouth and jaw, in its sale to American company Dentsply Sirona. Advs. Micky Barnea, Ariella Dreyfuss, and Daniel Arbov advised the client throughout the deal.

Ariella Dreyfuss lectured today to a group of Israeli medtech startups participating in the Hadassah Accelerator (powered by IBM Alpha Zone). The lecture was on the secrets behind fundraising. 

As part of a comprehensive guide prepared by Humphreys Law Ltd on leaver and vesting provisions, Ariella Dreyfuss contributed her perspective on the Israeli market.

Simon Jaffa, Ariella Dreyfuss and Daniel Arbov represented Knorr-Bremse, the German global market leader for braking systems for rail and commercial vehicles in its US$10 million investment in the Israeli railway safety company Rail Vision.

The IBM Accelerator Pitch Day will be held today. As part of the event, entrepreneurs will present their ideas to a panel of experts. Ariella Dreyfuss will serve on the judges' panel at the event

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.

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, IP, etc.

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.

Lytx Inc., an American fleet management software developer, has acquired the video division of the Israel-based company Surf Communications, to serve as its Israeli RD center. Surf, founded in 1996, develops multimedia digital signal processing technologies for telecommunication infrastructures. Firm partners Micky Barnea and Ariella Dreyfuss represented Surf in the deal valued at between $20-30 million.

The Israel-based global leader in the development of non-implant catheter-based solutions for treating heart valve calcification has raised $27 million in funding. The investment round was led by our client, the European life sciences venture capital firm Sofinnova Partners, with the participation of Pi-Cardia chairman Prof. Jacques Séguin and previous investors. Advs. Micky Barnea, Ariella Dreyfuss, and Daniel Arbov represented the client.

2019 was a record year for femtech (female technology), a term generally applied to a category of software, diagnostics, products, and services that use technology to focus on women’s health. As this is one of the most growing markets in recent years, Adv. Ariella Dreyfuss was asked by Start-Up Nation Central to discuss the challenges and potential in the market. In an interview, Ariella commented that "femtech is essentially a palatable term, a euphemism, to describe tech products and services in the field of female health: digital health apps, consumer health tech products, and medical devices that address menstruation, menopause, fertility, breastfeeding, incontinence, contraception, and female cancers.”

Our firm represented the Spanish multinational industrial group MAT Investment Holdings in the merger of its Israeli subsidiary Dorot Management Control Valves from Kibbutz Dorot with A.R.I. Flow Control Accessories, a company owned indirectly by Kibbutz Kfar Haruv.

As part of the firm's representation of the IBM Alpha Zone Accelerator, Adv. Ariella Dreyfuss attended a session with participants of the new class and lectured on raising financing and investment terms.

Our firm hosted today a meetup with British American Tobacco (BAT). Ariella Dreyfuss overviewed for the participants the local market and the legal challenges that exist for companies.

Ariella Dreyfuss talks to 50inTech in a special podcast about the growing femtech industry. She discusses challenges facing entrepreneurs in the field and offers advice on how to talk to investors.

Our firm represented CryoLife in a strategic transaction with Israel-based endovascular stent graft system developer Endospan. The transaction involved an option to purchase Endospan for up to USD 450 million in the future, together with an exclusive distribution arrangement and USD 15 million in secured debt financing.  

Adv. Ariella Dreyfuss lectured today to participants of Hebrew University's International Transdisciplinary Innovation program on the first legal steps of launching an initiative.

Our firm is representing Azrieli Group in its equity investment in Compass Datacenters LLC., a company engaged in the commercialization of hyperscale data centers in North America. This acquisition is part of Azrieli Group's overall expansion into real estate in the international arena.  

Our firm hosted today a meetup for entrepreneurs in the femtech field. Co-hosting was 50inTech, a French organization that provides a platform for women in the high-tech industry. During the meetup, in which 25 entrepreneurs gathered, Ariella Dreyfuss delivered a brief overview of challenges, trends, and opportunities in the femtech field.

Adv. Ariella Dreyfus, a partner in our firm who has advised startups in the femtech field, was interviewed by TheMarker for an article on the burgeoning femtech market. This market is estimated to reach a value of USD 50 billion in 2025.

Our firm represented JJDC in its follow on investment in the Israeli medtech company DayTwo, as part of a $31 million series B round.  

Micky Barnea, Ariella Dreyfuss, Itay Gura, Mayer Winkler, and Ido Freund represented Johnson Johnson Innovation in an investment round in the Israeli medtech startup Techsomed Medical Technologies Ltd. Founded in 2012, Techsomed has developed an image analysis system that helps track tissue response to thermal ablation, the process of destroying tumors using extreme heat or cold. Techsomed intends to use the funding toward receiving regulatory approval in the US, Europe, and Japan.JJDC led the company's current round of financing, which included both former and new investors, such as Screen Holdings, the Alfred Mann Institute at the Technion (AMIT), NextLeap Ventures, and Axil Capital.

Advs. Micky Barnea and Ariella Dreyfuss of the firm's Corporate Department provided a snapshot of merger and acquisition law in Israel, as published by Lexology.

Barnea's QA guide to doing business in Israel was published on 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, regulation, employment, taxation, and IP.

As part of the firm's activity with the IBM Alpha Zone Accelerator, Adv. Ariella Dreyfuss participated in a session with participants of the new class and lectured on penetration into new markets.

We hosted today a delegation of French startup companies from the life sciences and medtech sectors. The delegation was organized by the Embassy of France and visited Israel to learn about the local life sciences scene. During the event, Adv. Ariella Dreyfuss discussed the Israeli medtech ecosystem and the legal challenges companies should be aware of.

Adv. Ariella Dreyfuss lectured today at Ben-Gurion University on the first steps of launching a startup, including legal structure and what companies should avoid. The lecture is part of a course for MBA students in the Faculty of Management.

Adv. Ariella Dreyfuss was invited to speak in China, as an expert in the high-tech scene, as part of a course on entrepreneurship, venture capital, and investment in startups. The course was organized by the University of Geneva for students of China's Tsinghua University.

Our firm participated in the selection process for the 8th class of the IBM Alpha Zone accelerator.

Adv. Ariella Dreyfuss is featured in an article on TheMarker about female lawyers who have led merger and acquisition transactions for high-tech companies. Ariella is mentioned as the partner who led the Viola Private Equity investment in SimilarWeb.

Our firm represented the US pharmaceutical and medical devices company Johnson Johnson Development Corporation (JJDC) in a USD 3 million lead investment round in OrthoSpin Ltd. OrthoSpin is an Israeli-based startup that provides smart robotic external fixation systems.

Barnea represented ADM Capital, a UK-based investment fund, in an investment round in the Israeli plant-breeding startup Rootility.

A report on the MA market in Israel was written by Adv. Ariella Dreyfuss and published on the international IFLR 1000 ranking guide's website. The report analyzes the trends and developments in the MA market in Israel.

As part of our cooperation with IBM Alpha Zone Accelerator,  Ariella Dreyfuss will  mentor today at the IBM Alpha Zone Accelerator's 7th Class Pitch Day, where participating startups have the opportunity to present to industry leaders and receive relevant feedback.

We are hosting today together with Enterprise Florida a delegation of students from the Johnson Cornell Tech for a presentation session with venture capitalists. Adv. Ariella Dreyfuss, a partner in our Corporate Department, will participate in the session.

Adv. Ariella Dreyfuss will lecture today at the Ben-Gurion University Innovation Program on the topics of founders' agreements, IP, and investment agreements.

Barnea represented Israeli startup EXO Technologies, a developer of GPS technology for autonomous and connected vehicle applications, in its acquisition by the American corporation Lear.

HP Inc. completed its acquisition of Samsung Electronics Co., Ltd.’s printer business in a deal valued at $1.05 billion. HP Inc. was represented by Barnea

We are hosting today a delegation of senior executives from large enterprises across a variety of industries in China. These executives have come to Israel to learn about Israeli innovation and entrepreneurship.

Adv. Ariella Dreyfuss, Partner at Barnea contributed an article to The Times of Israel on the "drag along provision" included in most investment documents. Ariella outlines five tips for minority shareholders looking to ensure the drag along mechanism works for them when negotiating investments.

As part of our cooperation with HUstart, The Hebrew University Entrepreneurship Center, Adv. Ariella Dreyfuss will speak today to the participants of its TIP (Trans-disciplinary Innovation Program). Ariella’s lecture will focus on the legal aspects of raising initial financing.

Adv. Ariella Dreyfuss will lecture today to the participants of the international program of the Ben-Gurion University Innovation Program on the topics of founder agreements, IP and investment agreements.

Barnea represented Johnson Johnson in respect of its investment of USD 12 million in the startup, DayTwo, which provides personalized nutrition recommendations based on mapping and analyzing the composition of intestinal bacteria.

Adv. Ariella Dreyfuss in an article in Globes Dun's 100 discussing the legal minefields to be avoided when engaged in big data technologies.

For the second year, Barnea is taking part in the Tel Aviv University Innovation Conference. In the framework of the conference, Micky Barnea, will lecture on the subject of the legal challenges entailed in late staged startups and will judge in the competition final with other mentors from Shazam, Prezi, Capsula, Strauss Group and IAI.Adv. Yuval Lazi and Ariella Dreyfuss, will judge in the start-up competition in the Fintech, Gaming and IoT sectors. Yuval Lazi will also participate in a panel discussion on funding a start-up, together with a representative of the Office of the Chief Scientist, Tau Ventures' CEO and the CEO of "Cockpit", El-Al's start-up support program.

Adv. Ariella Dreyfuss, Partner at Barnea will lecture today at the Radzyner Law School in IDC Herzliya, as part of the tutoring program Olim Le’Mishpatim, which aims at providing non-native Hebrew speakers with extra lessons in legal courses.

Barnea represented Viola Private Equity in an investment of USD 50 million in Similar Web, a leading digital market intelligence platform that provides insights for websites and applications.

Barnea together with the UK Israel Tech Hub are hosting today a delegation from the UK, who will be visiting Israel for the first time in order to look for investment and cooperation opportunities, mainly in the Mobility field.

Barnea, together with the Israel-South Africa Chamber of Commerce, is hosting today a cocktail event to promote networking between South African businessmen living in Israel and Israeli businessmen.

Doing Business in Israel? A QA guide to doing business in Israel written by Barnea was published in the Practical Law website. The guide gives an overview of the legal system, foreign investment, regulation, and other issues pertaining to Israel.

Adv. Ariella Dreyfuss, Partner at Barnea in an article on Convertible Notes. According to Ariella, Convertible notes are an attractive instrument for investors, they can also be advantageous to entrepreneurs and if drafted correctly should balance the interests of both parties.

Corporate Live Wire held a Cross border Mergers and Acquisitions roundtable featured experts from around the world, including Adv. Ariella Dreyfuss. The chosen experts discussed regulatory changes, legislative precedent, challenges and opportunities as well as key trends and latest developments.

Barnea represented Israel Growth Partners (IGP)  in an agreement to buy 300,000 Jacada shares, 7% of the company's share capital, from Robert (Bob) Ashton's investment firm Kinetic Catalyst Partners.

Ariella Dreyfuss will lecture to early-stage entrepreneurs who participated in StarTAU's Elite Entrepreneur Program. The lecture will deal with founders agreements and what you need to avoid as a new startup.

On July the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.

Earlier this month the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.

Investors, whether angels, VCs or corporates, typically demand a seat on the board of directors of their target company in return for their investment. For the full article by Ariella Dreyfuss, please click here

From day one most Israeli entrepreneurs are already looking for their exit. Unfortunately they are not always prepared and preparation is the key.

Barnea invites you to the TAU Innovation Conference 2016. The conference is the largest international innovation conference in the Middle East, with over 6,000 attendees from across the world. This includes entrepreneurs, industry leaders, diplomats, investors, and highly respected keynote speakers at educational and networking events. As Barnea is a participant in the event, our clients enjoy a 35% discount (Password:  TAUBarnea2016) As part of the event, Micky Barnea will participate in the IPO and exits panel, Yuval Lazi will participate in the fundraising panel and Yuval Lazi and Ariella Dreyfuss will be judges at the Tel Aviv StartUp Challenge competition.

Simon Jaffa Adv. and Ariella Dreyfuss Adv. represented The Jeremy Coller Foundation in its donation of up to USD 50 million to the Tel Aviv University for its School of Management.

Yesterday, the signing ceremony of the Share Purchase Agreement for the sale of Ahava Dead Sea Laboratories Ltd. to Fosun (China), for approximately NIS 290 million, was held in Jerusalem. Micky Barnea, Ariella Dreyfuss and Itay Gura from our firm represented Kibbutz Mitzpe Shalem, one of the selling shareholders.

Barnea represented Continuity Software in a transaction for the sale of the company to Kedma Capital for an amount of NIS 160 million. Continuity Software is the leading provider of service availability risk management solutions. Representing Continuity Software- Adv. Micky Barnea and Adv. Ariella Dreyfuss. Adv. Yuval Lazi represented Kedma Capital.

As part of our cooperation with MIT Enterprise Forum of Israel, our office will take part in an Angel's Investor workshop consisting of 6 meetings. Adv. Micky Barnea, Adv. Yuval Lazi and Adv Ariella Dreyfuss will lecture at the workshop.

Adv. Simon Jaffa, Adv. Ariella Dreyfuss, Adv. Itay Gura and Adv. Karin Kashi represented Covercy, a Fintech start up in the foreign exchange and remittance industry, in raising financing in a round led by SGVC

V-Wave, a privately held company with offices in Israel and the U.S., completed a Series B financing round in the sum of $28m. The round was led by Johnson Johnson Innovation - JJDC Inc. (represented by Barnea). Other participants were TriVentures, Pura Vida and BioStar Ventures. Eli and Nir Barkat's BRM fund, Pontifax and Edwards Lifesciences, which were already shareholders in V-Wave, also participated.

Ariella Dreyfuss Adv. published an article in the leading legal English website "The Lawyer" discussing the new law in Israel relating to alternative means of raising funds. The goal of the law is to assist small Israeli companies in their efforts to raise funds through the social phenomena of crowdfunding, and the establishment of high-tech funds to be traded on a new index on the Tel Aviv Stock Exchange.

The social phenomena of crowdfunding, adopted by high-tech startups as an alternative means to raise funds, was previously limited in Israel by Israel’s Securities Law. Section 15 of the law dictates that any offer or sale of shares to the public (i.e. to more than 35 potential investors) requires the issuance of a prospectus approved by the Securities Authority; a timely and costly endeavor, rendering crowdfunding prohibitive in Israel.

Effective as of January 1, 2016, Barnea appointed 3 new partners: Ilan Blumenfeld who specializes in Antitrust laws, the Kibbutz sector and advising on corporate matters; Liat Keisary who specializes in advising private clients and on real estate law; and Ariella Dreyfuss who specializes in advising technology companies and on MA transactions.

In an article published in The Lawyer and Lexology, Adv. Ariella Dreyfuss and Adv. Asaf Shalev explain that a new draft bill, published at the beginning of the month, proposes that Israeli private and public companies should be able to submit documents to the Israeli Companies Registrar in English. The aim of the bill is to ease the process for foreign parties interested in investing in Israeli business and participating in Israel’s high tech story.

The State of Israel has two official languages – Hebrew and Arabic. As a result, in recent years the Israeli Companies Registrar has held that all documents submitted to the Registrar have to be submitted in either of these official languages. If a document was submitted in English it would be rejected. Such documents include the constitutional documents – the articles of association of Israeli companies and debentures creating pledges over the assets of such companies.

In 2010, the Committee for Compensation and Royalties made a “revolutionary” ruling regarding the assignment by employees to their employers of rights to "service inventions" – i.e. inventions created in the course of employment. The Committee held that the assignment of an invention does not automatically amount to a waiver of the employee's right to receive compensation for such invention under section 134 of the Patents Law (1967). Although the employer would be the owner of a patent invented by an employee, it may still be compelled to pay the employee royalties for their contribution to the company's technology. This ruling sent proverbial shockwaves through the Israeli high tech industry. Companies, potential acquirers and investors struggled with assessing the risk as to whether employees, both past and present, would now seek compensation for the work they had performed for their employers. In a recent decision the situation appears to have been clarified. On 4 May 2014, the same Committee appears to have revised its position, when it rejected a claim for royalties by a former employee. The Committee ruled that an employee's right to compensation for "service inventions" is not absolute and such right may be waived. The Committee also found that a general waiver signed by the employee upon his termination was sufficient to relieve the employer from the requirement to pay royalties – even if such waiver did not make specific reference to inventions or to section 134 of the Patents Law. According to this latest decision by the Committee, an assignment of rights of "service inventions" together with a general release upon termination would now be sufficient to ensure that the employer will have no further liability to employees who have contributed to inventions. Nevertheless, it would still be prudent to include an express waiver of rights to royalties for "service inventions" in all employment agreements.

While the UK press has widely reported on ‘fat cat’ salaries and exorbitant bonuses of some of the most senior employees of public companies in the UK, in Israel new legislation on salary levels has been introduced to curb such excesses and limit and control the monies that have been pouring into the pockets of senior executives.