General Atlantic, a leading global growth equity investor, has become a significant investor in Chess.com
Our team loved taking part in a unique transaction pursuant to which General Atlantic, a leading global growth equity investor, has become a significant investor in Chess.com, one of the world’s largest chess on-line platforms. Our team who collaborated on this deal with our friends at Latham & Watkins, was led by the Co-head of our […]
Our client 888holdings signed a transaction for the sale of its Bingo business
888holdings plc, a leading global operator of online gambling offerings listed on the London Stock Exchange, signed a transaction for the sale of its Bingo business. The buyer, a subsidiary of Broadway Gaming, will pay a total of up to $50 million in cash, subject to post-closing adjustments and earn-out. Closing of the transaction is subject […]
Partner Adam Salkin shared his insights on UK VCs investing in Israeli tech companies
Our partner, Adam Salkin, in collaboration with Tech It Forward, has shared his insights on UK VCs investing in Israeli tech companies. This piece, published in one of the UK’s leading tech publications, Tech Round, is considered essential reading for any VCs contemplating a first-time investment in the Start-Up Nation. “…..On the one hand, the Israeli ecosystem […]
H2Pro ,the Israeli green hydrogen startup, raised $75 million in Series B round
Way to go! H2Pro, the Israeli green hydrogen startup, raised $75 million in Series B round to set up a commercial manufacturing facility, delivering utility-scale green hydrogen. The round was led by Temasek and Horizons Ventures with participation from existing investors such as Breakthrough Energy Ventures, Technion, Contrarian Ventures, TPY, iAngels, Sumitomo, Bazan, New Fortress Energy, […]
Looking Ahead: Global Changes and Employment Challenges | Live Webinar
Live Webinar | 15:00-17:00 Israel Time | 08.02.22 The Covid pandemic, paired with fast-moving technological and medical developments, have brought about a new reality which has required employers to adapt the workplace and the work environment. Employers, especially multinational companies, find themselves trying to juggle both the need to create a safe workplace while preserving […]
Congratulations to our client OpenWeb on their acquisition of the Hive Media Group
Congratulations to our client OpenWeb on their acquisition of the Hive Media Group. OpenWeb, an Israeli Unicorn engaged in building online communities around digital content has acquired Hive Media Group, a company at the cutting edge of publisher technology. We wish them success together on their journey to power online audience relationships and increase long […]
Memorandum of Law to Amend the Land Taxation Law
Dear clients and colleagues, On January 13, 2022, a legislation memorandum was published to amend the Land Taxation Law (the “Memorandum“). The Memorandum proposes to include a number of amendments to the Land Taxation Law. Among these, are a number of significant changes, especially for foreign residents who own residential apartments in Israel. It should […]
Updates Regarding the Equity and Insurance Obligations of Licensees under the Investment Advice Law
Client Update – Updates Regarding the Equity and Insurance Obligations of Licensees under the Investment Advice Law On December 19, 2021, amendments to the Regulation of Investment Advice, Investment Marketing and Portfolio Management (Equity and Insurance) Regulations – 2021 came into force. The new regulations grant licensees the discretion to choose the guarantee that would […]
Publication of the Regulation of Payment Services Memorandum of Law, 2022 for public comments
Dear Colleagues and friends, We would like to bring to your attention that on the 10th of January, 2022, the Ministry of Finance has published for public review and comments the draft Regulation of Payment Services Law, 2022 (the “Law“). Comments can be submitted until the 31st of January, 2022. The Law is published as a supplementary […]
Herzog’s Hi-Tech Bootcamp- Join Now!
Join Our Bootcamp and Learn How to Become a Hi-Tech Lawyer Herzog’s Tech Division, headed by Partner Yair Geva, is opening its first bootcamp, at no cost, to train legal practitioners in becoming hi-tech lawyers. If you are a lawyer (no matter what field of law) with great English and the desire and motivation to […]
Global Regulatory Developments in the field of Crypto Advertising
In the recent months, regulators around the world have increased their attention to activities related to the promotion of crypto-assets and crypto-asset related services. Subsequently, regulatory authorities have introduced new enforcement policies and regulatory regimes applicable to such promotions. Only this week the regulators from Singapore, Spain and the United Kingdom have published their regulatory […]
French Data Protection Regulator Publishes Guidance on Reuse of Personal Data by Processors
Technology & eCommerce Regulation in the Spotlight The French data protection supervisory authority (“CNIL“) has recently published a new guidance on the reuse of personal data by processors for their own purposes (“Guidance“) under the General Data Protection Regulation (“GDPR“). According to the Guidance, processors may use personal data obtained from their controllers for their […]
FTC Enforces against Online Loan Broker over Misuse of Sensitive Personal Data
The Federal Trade Commission (“FTC“) has announced a stipulated settlement (“Settlement“) with ITMedia Solutions LLC and a number of its affiliates (collectively “ITMedia“), over alleged violations of the FTC Act and the Fair Credit Reporting Act (“FCRA“). Under this Settlement, ITMedia will pay $1.5 million in civil penalties. According to the FTC’s complaint (“Complaint“), ITMedia, […]
Clients update – Regulation 3 to Transfer Regulations
Dear clients and colleagues, We wish to update you that on January 4, 2022, the Protection of Privacy Authority (the “PPA”) issued a statement of opinion with respect to the interpretation of Regulation 3 to the Protection of Privacy Regulations (Transfer of Data to Databases Outside the State Borders), 5761-2001 (the “Regulations”). The Regulations prohibit […]
Landmark Supreme Court Ruling – Foreign Insurers may File Subrogation Claims in Israeli Court’s
Dear Clients and Colleagues, On 13 December, 2021, the Israeli Supreme Court – Justice Grosskopf with the concurrence of Justices Barak-Erez and Amit – issued its decision in Civil Appeal 206/20 Teva Pharmaceutical Industries Ltd. et al v. T&M Goshen Security Services Ltd. et al. The Supreme Court reversed the decision of the Tel Aviv […]
Partner Yair Geva & associate Reggev Mechalovich’s contribution to the Chambers Technology M&A Guide 2022
Partner Yair Geva and associate Reggev Mechalovich, shared their overview regarding trends and developments in 2021, in connection with M&As and financing rounds, in the Israeli chapter of the recent “Chambers Global Practice Guide”. “2020 was considered a somewhat moderate year due, among other things, to the global turndown derived from the COVID-19 pandemic, while […]
Entry into Force of the Tax Reform on Solvents and Lubricating Oils
Dear friends and colleagues, Further to our client updates from September 19, 2021 and November 21, 2021 regarding the pending tax reform for solvents, we would like to update that, on December 22, the reform was approved by the Knesset Finance Committee. This reform will come into force on January 17, 2022. Accordingly, imports released […]
MSCI is considering adding Israel to MSCI Europe Index and has published an online survey for this purpose
MSCI, one of the largest index providers in the world, is re-considering the Regional Classification of Israel. In particular, MSCI is considering whether to regionally classify Israel as Europe, and accordingly, whether to add Israel to MSCI Europe Index. The regional classification of Israel depends, inter alia, on the feedback MSCI receives from the online […]
Ad Platform Faces $2 Million Fine Over COPPA Violation
The Federal Trade Commission (“FTC“) announced a settlement with OpenX Technologies, Inc. (“OpenX“), an online advertising company, under which OpenX agreed to pay $2 million to the FTC. The settlement resolves the FTC’s claims that the company unlawfully collected personal information from children under 13 without their parents’ permissions, and thereby violated the federal Children’s […]
Updates to Covid-19 Regulations for Entry into Israel
Dear Clients and Colleagues, In accordance with the Israeli government’s latest Coronavirus restrictions, the following countries will be designated as “red” as of tonight at midnight: United Arab Emirates, Ireland, Norway, Spain, Finland, France and Sweden. As of December 22, 2021, the following countries will be designated as “red”: United State, Italy, Belgium, Germany, Canada, […]
Facial Recognition and Sensitive Data Scraping under Significant Enforcement Actions in the UK and Australia
The UK Information Commissioner’s Office (“ICO“), has recently announced a provisional intent to fine Clearview AI Inc. (“Clearview“) over £17 million (approximately $22.6 million), over several alleged data protection violations in breach of the UK’s privacy laws. In addition, the ICO has issued a provisional notice to stop further processing of the personal data of […]
Draft Regulations for the Supervision of Financial Services published for public comments
Draft Regulations for the Supervision of Financial Services (Regulated Financial Services) (Exemption from the licensing obligation) 2021, published for public comments Dear clients and friends, We would like to bring to your attention that the Ministry of Finance published a few days ago, draft Regulations for the Supervision of Financial Services (Regulated Financial Services) (Exemption […]
New business opportunities for ETFs in Israel
On November 22, 2021 the Israeli Securities Authority (“ISA“) issued its decision to permit Exchange Traded Funds (“ETFs“) listed on the Standard listing segment of the London Stock Exchange (“LSE“) to benefit from the dual-listing relief. Please note that up until now, ETFs had to be listed on the Premium listing segment of LSE. We […]
Congratulations to our client Celsius on its acquisition of the Israeli startup GK8
Congratulations to our client Celsius, the Israeli-American crypto company, on its acquisition of the Israeli startup GK8 which provides security solutions for safekeeping and managing digital assets. Our partner Adina Shapiro and associate David Azimov led the work on this deal alongside partners Karen Elburg, Shachar Porat, Ehab Farah, Ofer Granot, Maayan Hammer and associates Yuval Haimovich, Eti […]
Leaderim have signed an agreement for the sale of its business to the Willis Watson Tower group
Leaderim, leading insurance broker in Israel, arranging commercial insurance portfolios and providing independent insurance consultancy services, have signed an agreement for the sale of its business to the Willis Watson Tower group, a leading global insurance advisory, broking, and insurance solutions group currently traded on Nasdaq valued at $29 billion. The seller was represented by […]
Congratulations to our client Minute Media on its acquisition of Wazimo
Huge congratulations to our client, Minute Media, a leading global technology and content company, on its acquisition of Wazimo. Wazimo combines engaging content with advanced technology to drive audience growth and monetization. We have been working and advising Minute Media from its founding day and every step of their way. Our partners Rafael Herbst, Liat Shaked-Katz, Dan Sharot, […]
Chambers Gaming Law 2021 | Partner Liran Barak writes about the approach towards gambling in Israel
Gaming partner, Liran Barak, shares his overview of the legislative and regulatory framework relating to gambling in the Israeli chapter of the recent “Chambers Global Practice Guide”. “The approach towards gambling in Israel currently is, and always was, a highly conservative one. This is the result of an intersection of both religious and socialist values, […]
Update regarding entry to Israel – November 28th, 2021
Dear Clients and Colleagues, In accordance with the Israeli government’s latest decision, all non-Israeli citizens are restricted from entering Israel, except in exceptional humanitarian cases which require the prior approval of a special committee of the Ministry of the Interior. Foreign experts holding a valid B-1 Visa (permitting continued entry/exit) stamped in their passport may […]
EDPB Publishes Guidelines on the Interplay Between Territorial Scope and International Transfer under the GDPR
Technology & eCommerce Regulation in the Spotlight In the aftermath of Schrems II and the publication of the new Standard Contractual Clauses by the European Commission, the European Data Protection Board (“EDPB“) has published its guidelines on the interplay between the territorial scope of the General Data Protection Regulation (“GDPR“) and the provisions governing transfer […]
Israeli Tax Authority’s Reform on Solvents and Lubricating Oils
Dear friends and colleagues, Further to our client update from September 14, 2021 about the solvents reform (read here), we would like to bring to your attention that these orders will come into force on December 1, 2021 and, accordingly, the Knesset Finance Committee is expected to discuss the orders on November 23, 2021. Under […]
