News

Meitar represented Attenti Holdings SA and its shareholders (led by private equity fund Francisco Partners) in a transaction in which 3M purchased Attenti's shares for $230 million.  Attenti, which before its acquisition by Francisco Partners in early 2009 was a public company traded in London, is a private company, engaging in the research, development, sale and maintenance of electronic people-monitoring technologies.

VocalTec, an Israeli public company traded on NASDAQ is considered the inventor of VoIP. VocalTec merged in July 2010 with YMax Corporation, a US privately held company.

Meitar represented the investors in Wintegra, Inc., a leading provider of highly integrated network processors for mobile backhaul equipment, in its acquisition by PMC-Sierra, Inc. (NASDAQ:PMCS), an internet infrastructure semiconductor solution provider.

As part of its strategic move into the Israeli telecom market, Altice, a Luxembourg-based private equity firm that controls HOT, Israel’s cable television operator, acquired in May 2010 Mirs Telecommunications from Motorola.

Meitar's litigation group successfully represented the India-based Sun Pharmaceuticals (NSE: SUNPHARMA; BSE: 524715) in its legal proceedings against Israel-based Taro Pharmaceutical Industries (PINK: TAROF). The Supreme Court accepted Sun's argument that under Israel's Companies Law Sun is exempt from commencing a special tender offer in order to gain control over Taro.

Emblaze, is an LSE traded Israeli company that operates in the mobile technology market and that held a controlling stake in Formula Systems, an Israeli public company that controls a number of public companies traded on NASDAQ and the TASE that provide various IT solutions. Asseco is a Polish company traded on the Warsaw stock exchange that operates various IT solutions companies in Eastern Europe.

In March 2010, MX Telecom was acquired by Amdocs, an NYSE traded company which is a leading global provider of billing solutions. MX Telecom is a global aggregator providing connectivity and infrastructure, and facilitating payment and digital content delivery, to enable businesses to take advantage of mobile technology.

Meitar's litigation group obtained a seminal decision from the Tel-Aviv District Court on behalf of Sella Capital (TASE: SLARL), an Israeli real estate investment trust (REIT), blocking a hostile takeover attempt commenced in the form of a scheme of arrangement. The District Court ruled in favor of Sella, holding that a scheme of arrangement requires the consent of the company board of directors, and therefore can not be used for hostile takeovers.

Meitar represented Amdocs in its acquisition of French based company Streamezzo SA for $41 million. The transaction was accomplished by way of a purchase of shares from Streamezzo's shareholders and applying a forced-sale mechanism (bring along).

TEOCO, a Delaware private company that provides software solutions to telecom operators acquired TTI, an Israeli public company traded on NASDAQ, through a reverse triangular merger effected under Israeli law.

Meitar represented International Three Crown Petroleum and Israel Petroleum Company, private oil and gas exploration and exploitation companies, before the Supreme Court and the newly-established Economic Division of the Tel-Aviv District Court (in its first decision ever). Both courts accepted Meitar's arguments and rejected the motion of Bontan Corporation (OTC: BNTNF) for a temporary injection aimed to prevent a transaction with an Israeli public shell company.

Meitar represented NICE Systems, in its acquisition of e-Glue Software Technologies, Inc. for approximately $29 million. NICE is an Israeli company whose shares are listed for trading on the NASDAQ and the Tel Aviv Stock Exchange, and a leading global provider of internet-based solutions that enable enterprises and security organizations to extract insight from interactions, transactions and surveillance.

Meitar represented Red Bend, an Israeli venture-backed private company, in its acquisition of VirtualLogix Inc., a Delaware corporation, in consideration for newly issued Red Bend shares.

F.T.T. Investments of the Fishman Group held a 30% interest in Elettra (a provider of a range of marine activities, including survey, installation and maintenance of submarine systems) with the remaining interests being held by Telecom Italia. In September 2010, Elettra was sold for Euro 62 million.

Meitar represented Amdocs in a transaction for the realignment of its strategy in China, pursuant to which Amdocs sold 81% of its holdings in Longshine, its Chinese subsidiary, for approximately $27 million.

Meitar represented Bunzl, an LSE multi-billion traded company, which is a leading specialist distribution group supplying a broad range of non-food consumable products, in its first acquisition in Israel. The acquired company, Silco, is a leading distributor of food service disposables.

Axerra, a provider of circuit emulation and service emulation solutions over packet access networks, was acquired in October 2010 by DragonWave (listed on Nasdaq and TSX), a leading provider of high-capacity packet microwave solutions that drive next-generation IP networks.

Sapiens, looking to expand its line of products and broaden its presence in North America, acquired Harcase Software and entered into long term agreements with its three shareholders.