Israel Group News - April 2023

Welcome to the April 2023 issue of our global newsletter, Israel Group News, aiming to keep you informed about current developments, hot topics for your consideration, and DLA Piper activities that focus on bringing the dynamic Israeli ecosystem to your doorstep.

DLA Piper’s Israel Group delivers all the benefits of a global law firm through a team of lawyers committed to the Israeli market. We provide a wide range of innovative legal services to Israeli companies, investors, and entrepreneurs, as well as to companies throughout the world seeking opportunities in Israel. We view ourselves as an extension of our clients, and we aim to partner with them for the long term, whether their needs involve day-to-day inquiries, smaller projects, special situations, or large-scale transactions.

For more general information about the Israel Group, click here. To gain more perspective on our trusted advisor practice, the types of day-to-day guidance we provide, and our representative client list, click here. To view our promotional video, click here.

Please do not hesitate to reach out if you have any questions or if we may be helpful in any manner. For new client requests, please send an email to israelclientrequest@dlapiper.com. 

2022 year in review

Our year was full of stimulating professional events, practice growth, and meaningful community involvement. Watch our 2022 year in review video.

2023 Chambers ranking

We were pleased to be recognized once again by Chambers and Partners as a Band 2 leading firm in Corporate/M&A: International Firms in Israel. Jeremy Lustman, Partner and Head of the DLA Piper Israel Group, was also recognized as a Band 2 leading lawyer in Corporate/M&A: International Firms in Israel.

DLA Piper launches Artificial Intelligence and Data Analytics practice

Bennett Borden has joined the firm as Chief Data Scientist of the newly created Artificial Intelligence and Data Analytics Practice. Bennett, an experienced attorney and data scientist, helps companies monetize and productize data, develop AI systems and algorithmic models in a legal and ethical manner, and conduct discovery and internal investigations, including related to the verification of AI systems and detection of algorithmic biases. Read more.

Recent matters

Below are some recently announced transactions involving Israeli companies which were featured in the press:

• Advised Tigo Energy on a SPAC merger with Roth CH Acquisition IV at a company valuation of $600 million
• Advised OpenWeb on the US aspects of the acquisition of the proprietary audience management platform Jeeng for $100 million
• Advising Freightos, a digital platform for global freight-booking services, on its proposed merger with Gesher I Acquisition Corp., a special-purpose acquisition company (SPAC)
• Advised Lionheart III Corp, a NASDAQ-listed SPAC, on its de-SPAC transaction with Israeli blockchain technology company Security Matters Limited (SMX) to take SMX public on the NASDAQ stock market
• Advising Azrieli subsidiary Green Mountain on a deal to build a Norwegian data center for TikTok

Global activities

We are proud to report that, in the first quarter of 2023, we commenced projects for over 70 Israeli companies in the following 43 jurisdictions: Australia, Bahrain, Belarus, Brazil, Canada, China, Czech Republic, Denmark, the EU, Finland, France, Georgia, Germany, Greece, Hong Kong, Hungary, India, Italy, Japan, KSA, Mexico, Morocco, Netherlands, New Zealand, Norway, Panama, Poland, Portugal, Romania, Russia, Rwanda, Singapore, Slovakia, South Africa, South Korea, Spain, Sweden, Thailand, Turkey, Ukraine, the UAE, the UK, and the US.

Below are some new representative matters in which we assisted Israeli companies around the world:

• Commercial issues in Brazil, Canada, China, Czech Republic, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Ireland, Japan, Netherlands, Slovakia, Sweden, the UAE, the UK, and the US
• Corporate and securities issues in Australia, Bahrain, Canada, Greece, KSA, Morocco, Netherlands, Rwanda, Singapore, South Africa, Spain, the UAE, the UK, and the US
• Employment and employee benefits guidance in Australia, Canada, China, Denmark, France, Georgia, Germany, Hong Kong, Italy, Japan, Morocco, Netherlands, Norway, Poland, Portugal, Singapore, Spain, Sweden, Thailand, Turkey, Ukraine, the UAE, the UK, and the US
• Litigation and dispute guidance in France, Germany, and the US
• M&A and investment guidance in Canada, Germany, India, Japan, Mexico, Netherlands, South Korea, Spain, the UK, and the US
• Patent, trademark, and copyright guidance in the EU and the US
• Privacy guidance and compliance – including with respect to the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) – in China, the EU, France, Germany, Italy, Japan, Poland, Spain, the UK, and the US
• Real estate guidance in Germany, Hong Kong, and Singapore
• Regulatory issues in Australia, Belarus, Brazil, Canada, Czech Republic, the EU, Finland, France, Germany, Hong Kong, Hungary, India, Italy, Japan, KSA, Netherlands, New Zealand, Panama, Poland, Russia, Romania, South Africa, South Korea, Spain, the UAE, the UK, and the US
• Tax guidance in Germany, the UK, and the US

Colleague in the spotlight

Please tell us about your area of practice.

I am a senior associate on the Employment team in DLA Piper's London office.

I advise both multinational and regional clients on all aspects of employment work, undertaking a broad mix of contentious/litigious work and non-contentious work, including advisory and transactional work. It is probably fair to say I’m a litigator at heart! I also have significant experience in international project work. 

I advise employers across all sectors, but particularly Technology, Media, Financial Services, and Hospitality and Leisure. I have undertaken client secondments to an international airline and a global bank. I would hope that my in-house experience allows me to step into my clients’ shoes and provide commercial, solutions-driven advice. I also have worked in DLA Piper’s Paris and Hong Kong offices, broadening my international practice. 

What challenges do Israeli companies face when it comes to the UK market?

The UK workplace is hypercompetitive, and the so-called war on talent continues. As has been well documented, applicants are focusing more and more on company culture and seeking a positive workplace experience where they are supported to develop their skills and advance their careers.  Employees want more agency, and flexibility is a huge part of the workplace culture narrative with remote/hybrid options and alternative working patterns sought after across sectors.

If you could travel to Israel next month, what place would be at the top of your list to visit?

I was lucky enough to visit Tel Aviv on business in November 2022. I fell in love with the city and would love to come back with family and friends soon!

News from DLA Piper

• Global investment in AI is accelerating rapidly – and, at the same time, the disruption and potential risks of AI are increasingly becoming the focus of regulators around the world. In this paper, we set out key regulatory, litigation, and disclosure takeaways for corporations as they navigate the changing AI space.
• On the one-year anniversary of Russia’s invasion of Ukraine, the US and its G7 allies announced a broad expansion of the existing economic sanctions, export controls, and other measures imposed over the last 12 months. These latest measures, according to the White House, are intended to “impose costs on Russia for its aggression.” Read more about the significance of the announcement.
• The failures of Silicon Valley Bank (SVB) and Signature Bank sent many companies into credit and liquidity crises. See our top pointsLearn more about the concerns of anti-ESG movements and its potential implications for stakeholders.
• On February 15, 2023, the Securities and Exchange Commission (SEC) announced a proposal to enhance the protection of customer assets managed by registered investment advisers. The SEC is proposing to redesignate the current custody rule, Investment Advisers Act Rule 206(4)-2, as new rule 223-1, and to amend its provisions and certain related recordkeeping and reporting obligations. Learn more about the proposed rule.
• The recent volatility in banking will have far-reaching impact on not just the banking sector, but across multiple industries. These events are expected to trigger numerous investigations by state and federal regulatory and law enforcement agencies across a wide range of players, including, but not limited to, banks, public companies, executives, private and public investment funds and other asset managers, as well as other market participants. Read more about increased enforcement risks.

Professional events

On January 10, clients, colleagues, and friends gathered at the historic Jaffa home of Chef Nir Zook, where veteran journalists and analysts Maayan Hoffman (Head of Strategy and Senior Analyst, Jerusalem Post) and Gil Hoffman (Executive Director and Executive Editor, HonestReporting) provided insights on the likely impacts of the war in Ukraine, Iranian nuclear development, political instability in the US, and other world events on Israel's security, economy, diplomacy, and politics in the year ahead.

On February 12, we co-hosted a light brunch with our friends at Israeli law firm FWMK for an internal partners update, featuring Leo Batalov (Global Co-Head, Emerging Growth and Venture Capital). Leo gave an overview of the UAE market, with an emphasis on the investment space and issues and changes in local law. 

On February 14, we co-sponsored Axis Tel Aviv, which brought together investors from around the world and Israeli startups to discuss sustainability and ESG. Leo Batalov, Noam Goodman (Partner, Corporate), and Jeff Lehrer (Chair, Emerging Growth and Venture Capital) joined the event, and Jeremy Lustman moderated a panel on Smart Mobility/Smart Cities. At the end of the discussion, four startups in the mobility space had the opportunity to pitch to the panel, and one was chosen to receive a complementary consultation with a legal professional in the DLA Piper office of their choice to help further their global ambitions.

On February 15, we again co-sponsored the OurCrowd Global Investor Summit in Jerusalem after a three-year hiatus due to COVID-19. The largest investor event in the Middle East, the OurCrowd Summit is a day-long convening of entrepreneurs, venture capitalists, corporate executives, investors, and others to meet, learn, and do business. Our team hosted an Open Mic session, during which 34 companies from different countries pitched their startups.

On February 22, we co-hosted a Global M&A Event with Israeli law firm Herzog and ACC Israel. We were joined by our DLA Piper colleagues Christopher Giordano (Chair, New York Corporate and US Mergers and Acquisitions), Will Seivewright (Head, Middle East Corporate), Nils Krause (Head of Corporate and Mergers and Acquisitions), Alexander (Sasha) Kolmakov (Partner, Corporate), and Richard Hughes (Partner, Corporate). Over 100 people attended the event, which focused on global M&A trends, the state of M&A, M&A perspectives from around the world, and deal financing in the current down market. 

On March 8, Jeremy Lustman attended DLA Piper’s Fourth Middle East Tech Summit in Dubai. The summit brought together business leaders from the Middle East tech sector and covered key business issues impacting companies in the context of emerging technology, innovation, and the pursuit of growth. We look forward to hosting our own Global Tech Summit in Tel Aviv later in the year.

On March 13, we hosted a dinner with clients and colleagues in celebration of International Women’s Day, where we discussed the importance of mentorship for women in business, improving management skills, and being open to unexpected career paths. The event encouraged both early-career and experienced professional women to network as well as learn from and support each other.

On March 22, we co-hosted a digital transformation event with Israeli law firm Meitar on how AI will change the world. Over 150 participants learned from professionals about the key legal and regulatory risks to navigate in 2023. Anthony Day (Global Co-Chair, Technology and Sourcing) and Jonathan Rofé (Partner, Intellectual Property and Technology) provided insight on how to commercialize and scale AI solutions.

Upcoming professional events

• Eighth Israel Real Estate Summit: May 3
• Women’s Networking Lunch: Q2 2023
• Business opportunities in Ireland with David Carthy: Q2 2023
• Volunteering with clients: Q2 2023
• Second Annual DLA Piper Charity Basketball Tournament: September 11
• Israel Global Tech Summit: Q3 2023
• Global Life Sciences Event: Q3 2023

Giving back to the community

Corporate social responsibility is one of the guiding principles of the DLA Piper Israel practice, and we have enjoyed engaging in sponsorships and community activities throughout the quarter.

From January 17–23, we co-sponsored Comedy for Koby, a benefit for the Koby Mandell Foundation. The organization provides assistance to bereaved parents, widows, orphans, and siblings who have lost loved ones due to tragedy.

On February 4, we co-sponsored a benefit concert for Yad L’Olim, featuring musicians Ishay Ribo and Rabbi Shlomo Katz. Yad L’Olim provides support to immigrants to Israel from around the world by helping them navigate and acclimate to life in Israel.

On February 12, we co-sponsored a Super Bowl Party for lone soldiers from the Lone Soldier Center in memory of Michael Levin at Crave Gourmet Street Food restaurant in Jerusalem.

Recent press

“Layoffs in the US and Europe: how exactly does it work?” Walla! Finance, January 23, 2023

“Operating in the US market? The handbook for Israeli startups and companies,” Geektime, January 28, 2023

“Are your kids safe online? Cybersec experts tell you how to make sure,” Jerusalem Post, January 29, 2023

“It’s on Israeli companies to increase their compliance with sanctions against Russia,” Walla!, January 31, 2023

“Sanctions pressure and its effects,” The Market, February 2, 2023

“Are there job opportunities for foreign lawyers in Israel?,” Jerusalem Post, February 7, 2023

“In honor of the Superbowl: A moving tribute to lone soldiers,” Ice Publications, February 12, 2023

“Global trends in Mergers and Acquisitions,” Maariv, February 27, 2023

“Poland's tech industry in the wake of judicial reform,” Globes, March 8, 2023

“Good deeds day: These companies do good all year round,” Ice Publications, March 15, 2023