Israel Desks

Israeli tech M&A deals reach new peak – report

Idan Nishlis — Thu, 12 Dec 2024 15:49:23 +0000

A recent report from Vintage Investment Partners reveals that 2024 is expected to see a new peak in tech M&A activity. Despite challenges like geopolitical tensions and rising interest rates, Israeli tech M&A deals are showing resilience, with companies maintaining healthy valuations.

The continued growth is driven by strong demand from both local and international buyers, looking for opportunities in Israel’s thriving tech sector, particularly in cybersecurity and artificial intelligence.

USD1.5m grants available for U.S.-Israel cybersecurity collaboration

Idan Nishlis — Thu, 12 Dec 2024 15:44:06 +0000

The Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation, along with the Israel National Cyber Directorate (INCD) and the U.S. Department of Homeland Security (DHS) Science and Technology Directorate (S&T), have launched a new BIRD Cyber Call for Proposals.

This initiative seeks to tackle cybersecurity challenges that are of shared importance to both countries, encouraging collaboration on innovative solutions to enhance cyber resilience and security.

Trump must strengthen innovation ties between Israel and the U.S. – opinion

Idan Nishlis — Thu, 12 Dec 2024 15:37:39 +0000

Despite the fact that war has strained finances, with a USD 9 billion budget cut in 2024, Israel’s tech sector, contributing 18% of GDP, remains resilient.

The rise of AI is identified as a key opportunity, with potential to add USD 100–200 billion to Israel’s GDP over five years and create up to 100,000 jobs.

This article examines the innovation ties between the U.S. and Israel.

Michlol Mimun issues NIS233m in bonds

Idan Nishlis — Thu, 12 Dec 2024 15:32:29 +0000

Michlol Finance, one of Israel’s most prominent financial services firms, has successfully issued public bonds worth NIS 233 million as part of its strategy to diversify funding.

Arnon, Tadmor-Levy represented the issuer, with the transaction led by Shai Margalit, Shiri Shaham, Or Perel, and

Tomer Tzach This follows a private bond issuance in May, conducted via its subsidiary Michlol Nadlan on the TASE institutional track, which raised approximately NIS 190 million.

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Amot Investments completes NIS 610m bond exchange

Idan Nishlis — Thu, 12 Dec 2024 15:25:30 +0000

Amot Investments, a leading Israeli real estate company, has successfully completed an exchange tender offer for its Series D and E bonds.

The offer involved swapping these bonds for expanded Series I and J bonds, totalling NIS 610 million. This move aligns with the company’s strategy to optimise its financial structure and enhance flexibility.

Agmon with Tulchinsky led the transaction, with partners Shirel Guttman-Amira and Ran Felder, along with associate Marom Bouznah from the Corporate, Securities, and Capital Markets Department, providing legal counsel.

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Greystone’s record-breaking bond offering

Idan Nishlis — Thu, 12 Dec 2024 15:17:09 +0000

Greystone Senior Debt BI, LTD, a subsidiary of U.S.-based real estate finance and investment firm Greystone, completed a Series A bond offering on the Tel Aviv Stock Exchange, raising approximately USD 160 million.

The offering achieved the highest rating ever for this product and was three times oversubscribed, reflecting strong investor confidence.

Herrick, Feinstein, represented by Yariv C. Ben-Ari, Morris F. DeFeo, Jr., Louis Tuchman, and Jessie Root, collaborated with Israeli law firm Goldfarb Gross Seligman.

The Goldfarb team included Chairman Amir Tzafrir, Corporate and Capital Markets partner Hod Mimun, associates Ghazi Jaljoly and Dalia Shadafna, and intern Miraa Nasirat. This transaction underscores Greystone’s robust market reputation and its appeal to international investors.

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Tene Capital sells Sharon Personal Care to Indian buyer for appx. USD150m

Idan Nishlis — Thu, 12 Dec 2024 15:08:06 +0000

Tene Capital Fund, alongside Sharon Laboratories Ltd. and the Burstein family, has successfully sold Sharon Personal Care Ltd., the core cosmetics division of Sharon Laboratories, to Indian corporation Eternis Fine Chemicals Limited for an estimated USD 150 million.

This sale marks a significant milestone, more than doubling the value of the company since Tene’s 2017 acquisition at a valuation of USD 70 million.

Sharon Laboratories, founded in 1977, specialises in manufacturing chemicals and natural preservatives for the cosmetics and food industries. Tene acquired a 60% stake in 2017 for USD 40 million, injecting USD 12 million in additional capital. The remaining operations of Sharon Laboratories are expected to be sold in the coming months.

EBN acted for Tene Capital Fund, Sharon Laboratories Ltd. and the Burstein family on the transaction, which was led by newly appointed managing partner Lior Oren, as well as Eyal Wiesel, and Kobi Barkan, with support from specialists across corporate, environmental, labour, real estate, privacy, and tax law.

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Thoma Bravo sells Israel’s CyberArk stake for USD370m

Idan Nishlis — Thu, 12 Dec 2024 15:01:33 +0000

CyberArk Software Ltd., an Israeli cybersecurity firm specialising in privileged access and identity security, has successfully completed a USD 370 million secondary offering.

The transaction, led by Bank of America as sole book-running manager, reflects strong investor confidence in the company, which has expanded its market presence with the recent acquisition of Venafi, a US-based leader in machine identity management.

The acquisition combined Venafi’s expertise in machine identity management with CyberArk’s capabilities, creating a comprehensive enterprise-scale identity security platform.

Meitar acted for CyberArk, with the transaction led by Shachar Hadar, Matthew Rudolph, Victor Terner, and Vered Lapushin.

Paul Hastings acted for BofA Securities, the investment banking and capital markets division of Bank of America Corporation, as the sole book-running manager, together with a Naschitz Brandes Amir team led by Tuvia Geffen, Roi Turgheman, and Asi Moravchick.

This offering also enabled private equity firm Thoma Bravo, a major stakeholder, to capitalise on CyberArk’s increased valuation following the Venafi deal.

Israel’s next tech boom: Pioneering the future of global defensetech

Idan Nishlis — Thu, 05 Dec 2024 17:28:28 +0000

As global defense budgets surge and technological innovation reshapes warfare, Israeli startups are emerging as key players in the defensetech revolution.

With a legacy of military expertise and a thriving tech ecosystem, Israel is uniquely positioned to tackle challenges like asymmetrical warfare and low-cost threats from drones and missiles.

Viola Ventures’ latest report highlights the untapped potential for Israeli companies in Asian and NATO markets, where investments in AI, robotics, and satellite technologies are accelerating.

Former NBA player Omri Casspi completes USD60m raise for Swish Ventures’ second Seed fund

Idan Nishlis — Thu, 05 Dec 2024 17:26:05 +0000

Omri Casspi, former NBA player and the founder of Swish Ventures, has raised USD60 million for the fund’s second Seed stage venture fund.

Investors in the fund include Sequoia, pension funds, and over 25 serial entrepreneurs.

Swish, which now manages approximately USD125 million in assets, includes portfolio companies such as PointFive, Eon, and Upwind.